Robinhood Markets is still weighing whether to add cryptocurrencies like Bitcoin to its corporate treasury, despite the growing popularity of such moves among publicly traded companies. Shiv Verma, the company’s vice president of finance and strategy, said during Robinhood’s third-quarter earnings call that while holding crypto could bring the firm closer to the digital asset community, management is still assessing whether it would be the right decision for its shareholders.
“We spent a lot of time thinking about this,” Verma said. “We like alignment with the community. We are a big player in crypto. We want to keep doing it. We like that our customers are engaged in it. What we always try to figure out is: is it the right thing for shareholders as well?”
Crypto treasury adoption—where companies hold digital assets like Bitcoin on their balance sheets—has become a defining corporate trend this year, often boosting stock performance and market perception. However, some analysts warn that the strategy carries risks, including volatility exposure and the potential for oversaturation as more firms follow suit.
Verma acknowledged those trade-offs, noting that while adding Bitcoin or other crypto assets to Robinhood’s books could demonstrate alignment with the broader digital economy, it would also tie up capital that could otherwise be used for expansion. “It has the positives that you’re aligned with the community, but it does take up capital,” he explained. “Is it the best use of our capital? There’s a lot of different things you’re doing—from new products to growth to investing in engineering.”
He also questioned whether it made sense for Robinhood to make investment decisions that its users could easily make for themselves. “Our shareholders can also go and buy Bitcoin directly on Robinhood,” Verma said. “So are we making that decision for them? We have this debate constantly, and the short answer is we’re still thinking about it.”
Despite its caution on corporate crypto holdings, Robinhood’s crypto business continues to expand rapidly. The company’s third-quarter earnings beat Wall Street expectations, with total revenue doubling year over year to $1.27 billion. Crypto-related income accounted for $268 million—more than triple last year’s figure—driven by increased trading activity amid market volatility.
Verma concluded that the company remains open to the idea but will continue to assess the balance between community alignment and shareholder value. “There are pros and cons to both sides,” he said. “It’s one that we’re going to keep actively looking at.”
