Robinhood CEO: Company currently has no plans to hold Bitcoin for investment purposes

PANews, December 24, according to The Block, in an interview published on Monday, Vladimir Tenev, CEO of stock and cryptocurrency trading platform Robinhood, said that despite the increasing importance of cryptocurrencies to the company, Robinhood currently has no plans Hold Bitcoin for investment.

Tenev noted that the idea of ​​holding Bitcoin "has been mentioned from time to time" due to Robinhood's growing interest in cryptocurrencies. But he added that Robinhood has no plans to hold Bitcoin as an investment, other than holding some cryptocurrencies for customer trading needs. He said: "We are not ruling out the possibility, but we are not doing so yet. After all, we are not in the business of investment management."

Tenev went on to say that although Robinhood does not have Bitcoin on its balance sheet like companies like MicroStrategy and Tesla, its stock price "is already highly correlated to Bitcoin, and we don't even own it financially yet"; if Robinhood Holding Bitcoin for investment purposes may "complicate" investors' view of the company, making them potentially view it as a "bitcoin holder-like company."