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Figma invests $91M in Bitcoin; CEO Dylan Field clarifies it is not a replica of Michael Saylor’s strategy

Executive in a boardroom observing a holographic dashboard with Bitcoin and AI data, modern lighting.

Figma has allocated $91 million to Bitcoin as part of a treasury shift aimed at diversification and supporting its artificial intelligence (AI) agenda. CEO Dylan Field emphasized that the purchase is part of a portfolio and liquidity strategy, and is not intended to replicate the massive accumulation model associated with Michael Saylor and MicroStrategy.

Strategic Announcement and Objective

Figma announced a limited $91 million Bitcoin allocation as part of a broader treasury strategy. The strategic objective is to preserve value and maintain financial flexibility for continued investment in product development and talent. The purchase was made using available funds, without incurring debt, in line with a treasury policy that prioritizes cash availability and strategic investment options, especially for AI-related initiatives and platform enhancements.

Operational and Financial Context

The company is making this decision from a position of strong cash reserves and consistent quarterly growth, which allows it to experiment with alternative assets without impacting daily operations. The available liquidity enables Figma to allocate a portion of its reserves to Bitcoin while maintaining capital for AI development and business continuity. Recent purchases, combined with machine learning-supported features, justify a strategy that balances innovation with value preservation.

Key Differences vs. MicroStrategy

Rationale:
Figma aims to diversify and support product strategy, whereas MicroStrategy has made Bitcoin its primary reserve asset. For Figma, the investment is complementary to operational strategy, not the central pillar of financial identity.

Debt Usage:
Figma used available cash instead of issuing debt, unlike MicroStrategy. This approach reduces financial leverage and the risks of funding crypto exposure with additional obligations.

Relative Exposure:
Figma’s exposure is limited relative to total treasury, while MicroStrategy’s position is significant and central. This magnitude difference affects how Bitcoin price fluctuations impact financial stability.

Communication Approach:
Figma frames the purchase within financial governance and institutional communication, whereas MicroStrategy uses a proactive public narrative around Bitcoin. The communication style shapes market perception and stakeholder expectations.

Governance and Recommendations

Integrating Bitcoin into a treasury requires clear limits, governance processes, and transparency to mitigate high volatility risks. Companies exploring this path should define custody arrangements, access controls, loss thresholds, periodic reporting, and accountability mechanisms. Using surplus cash with clear policies reduces the risk of a single cryptocurrency compromising financial stability.

Implications for Adoption and Financial Sovereignty

A measured and transparent corporate adoption can help position Bitcoin as a store of value and expand alternatives to centralized financial systems. This trend may enhance financial sovereignty and increase instrument diversity, provided corporate decisions maintain financial discipline and support a crypto ecosystem with proper controls.

Image of BTC

Conclusion

Figma’s $91 million Bitcoin purchase represents a cautious adoption aligned with diversification and AI-related operational objectives, but it does not replicate MicroStrategy’s strategy. The case highlights the need for clear governance frameworks to integrate cryptocurrencies into corporate treasuries without compromising operational stability or transparency.

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