Robinhood CEO Vladimir Tenev recently stated in an interview on Anthony Pompliano's show that as Robinhood's interest in cryptocurrencies grows, the idea of 'Bitcoin reserves' comes up from time to time. However, apart from holding some Bitcoin to meet customers' trading needs, the company currently has no plans to hold Bitcoin as an investment asset.
We do not rule out this possibility. But so far, we have not done so, and our business is not fundamentally about investment management.
Vladimir Tenev further pointed out that although Robinhood has not followed in the footsteps of MicroStrategy and Tesla by incorporating Bitcoin into its balance sheet, the company's stock price has been highly correlated with Bitcoin, even in the absence of the company holding Bitcoin.
Robinhood (HOOD) has risen 202% this year, while Bitcoin's year-to-date return is 110%.
In addition, Vladimir Tenev stated that if Robinhood were to hold Bitcoin as a corporate reserve, it could complicate investors' views on the company, and they might even see it as a 'Bitcoin-like stock.'
Source
