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Robinhood's quarterly performance is smashing expectations, but the CEO is still conflicted about holding onto Bitcoin.
[Crypto World] Robinhood’s crypto trading revenue skyrocketed 300% this quarter, and its stock price has surged 280% year-to-date, with impressive financials. However, CEO Vlad Tenev recently made some intriguing comments—about whether to add Bitcoin to the company’s balance sheet, he said they’re still debating.
On one hand, this move seems in line with the crypto community’s spirit; on the other hand, he’s concerned about whether there might be smarter ways to use that money. He also posed a question: since users can already buy cryptocurrencies directly on the platform, is it really the best solution for the company to hold its own crypto assets?
Interestingly, the market didn’t seem entirely convinced by these remarks, as the stock pulled back 2% after hours. It appears investors are hoping Robinhood will take more aggressive steps.