The company’s cryptocurrency division reports a 165% revenue surge despite Bitcoin market volatility.as a strategic asset, some notable players remain hesitant. One of them is Robinhood—an American financial services company.with Anthony Pompliano, Robinhood CEO Vladimir Tenev, confirmed that the trading platform has no plans to hold BTC as an investment.
This cautious stance contrasts sharply with the growing trend of institutional adoption, raising questions about Robinhood’s long-term vision in the evolving cryptocurrency landscape. Tenev acknowledged that the idea of holding BTC occasionally surfaces within the company, reflecting its growing involvement in the cryptocurrency space.Tenev clarified, “We wouldn’t rule it out. We haven’t done it thus far. Not in the business of being an investment manager.” This indicates that while BTC isn’t entirely off the table, certain considerations influence Robinhood’s “We have to do the work of accounting for it, and it’s essentially on the balance sheet anyway, so there’s a real reason for it.” Thus, while firms like MicroStrategy and Metaplanet are time and again leveling up their Bitcoin game, Robinhood seems to have taken a step back but not completely. This may be due volatile nature of cryptocurrency or just a unique growth strategy that the company might be adopting just likeThus, calculating the risk which comes along with the digital assets, Robinhood might have gone the other way around.Meanwhile, on the price front, things were looking a little grim for the king coin. At press time, Bitcoin wasRobinhood’s sharesDespite this, the stock maintains a consensus price target of $38.19, with projections ranging from a bullish $55 by Morgan Stanley to a more conservative $11 by Barclays
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Metaplanet Doubles Down on Bitcoin Strategy Amid Market VolatilityMetaplanet, a Tokyo-listed firm, continues to bolster its Bitcoin holdings, acquiring an additional 619.7 BTC at an average price of $97,786. This strategic move brings its total Bitcoin stash to 1,761.98 BTC, valued at over $164 million. Despite Bitcoin's recent decline below the $100K mark, Metaplanet remains bullish on the cryptocurrency's long-term potential, fueled by a recent bond issuance and mirroring the strategy of MicroStrategy. Metaplanet's aggressive Bitcoin acquisitions, however, have coincided with recent stock price fluctuations.
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