Robinhood CEO Vlad Tenev revealed
Robinhood CEO Vlad Tenev revealed in an interview on December 24 that the company’s growing interest in cryptocurrencies occasionally leads to discussions about holding Bitcoin. However, Tenev clarified that Robinhood has no plans to hold BTC for investment purposes. Instead, the company holds some Bitcoin to meet clients’ trading needs.
Tenev stated that although Robinhood
Tenev stated that although Robinhood has not followed companies like MicroStrategy and Tesla in including Bitcoin on their balance sheets, the company’s share price is already highly correlated with Bitcoin without them holding it. Robinhood shares have increased by 202% this year, while Bitcoin has returned 110% year-to-date.
Tenev believes that if Robinhood were to hold Bitcoin for investment purposes, it could complicate investors’ view of the company, potentially viewing it as a “quasi-Bitcoin holding strategy.”
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