Bitcoin Price Prediction: As Figma Says Its $91M BTC Buy Isn’t A Michael Saylor Move, Sora Ventures Unveils Asia’s First $1B Bitcoin Treasury
The Bitcoin price rose over 2% in the past 24 hours to trade at $112,045 as of 3:38 a.m. EST as Figma said its $91 million BTC buy is not a Michael Strategy move and S ora Ventures said it will build Asia’s first $1 billion Bitcoin treasury firm outside of Japan. Figma, a collaborative design software company, expanded its BTC hoard to $91 million in the second quarter of this year, according to Chief Financial Officer Praveer Melwani. “We’re not trying to be Michael Saylor here,” CEO Dylan Field told CNBC , adding that it’s a part of the company’s $1.6 billion cash position. This stance comes as Figma’s approach appears more conservative, in contrast to some firms that have turned to BTC holdings as a last-ditch effort to excite investors. “This is not, like, a Bitcoin holding company. It’s a design company, but I think there’s a place for it in the balance sheet and as part of a diversified treasury strategy,” Fiel...