Figma (FIG), the design software company, jumped 198% on its initial trading day on the New York Stock Exchange, demonstrating a buoyant investor demand for Silicon Valley tech public listings.
Figma priced its shares at $33 each in Wednesday’s IPO — bringing in $1.2 billion and a $20 billion valuation for the company — but in early trading Thursday, the shares charged to approximately $98 each, giving Figma a much higher market cap of $60 billion.
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Though a software company and not a crypto company per se, Figma had previously disclosed its holdings of about $70 million in the Bitwise Bitcoin ETF (BITB) and said it now plans to pick up some $30 million in spot Bitcoin as well, as per reports.
Previously, Figma had agreed to a $20 billion acquisition by software giant Adobe.
But in 2023, Adobe walked away from the deal with Figma taking a $1 billion termination fee instead. Figma’s IPO is the latest in a string of successful market performances for tech and crypto-related companies that have recently gone public.
An increasing number of non-crypto companies are adopting a strategy similar to that of Bitcoin-rich firms like Strategy (formerly MicroStrategy) by adding digital assets to their balance sheet.
Cumulative institutional adoption is apparent, beyond crypto-native businesses, with more than 160 public firms in sectors as diverse as healthcare, gaming, and sustainable energy holding BTC on their balance sheets as of mid-2025.
Silently, companies like Semler Scientific, GameStop, and Block, Inc. have bought bitcoin as a defense against higher inflation and fiat devaluation, or — as in Strategy — as a hedge on future soars in crypto within the valuation.
Figma stock skyrockets 198% in explosive NYSE debut first appeared on TheStreet on Jul 31, 2025
