Robinhood Markets delivered a strong performance in cryptocurrency trading volume in the third quarter, exceeding expectations for both revenue and profitability.
The company’s total third-quarter trading revenue increased by 129% year-over-year, with crypto revenues reportedly the primary driver of this growth.
With many public companies adopting digital asset treasuries this year, Robinhood executives were also asked about plans to add Bitcoin to the company treasury.
Robinhood executive Shiv Verma gave a cautious response when asked, “Are you considering making Bitcoin or other digital assets part of your corporate treasury strategy?”
Verma said the company values being in harmony with the crypto community and being an important part of this ecosystem:
“We are big on crypto and we love the interest our customers have in this space. But we also always ask the question: Is this right for our shareholders?” he said.
Verma noted that adding Bitcoin to the company’s balance sheet has positive aspects, such as greater integration with the community, and that this also affects the use of capital:
“Our shareholders can already buy Bitcoin directly through Robinhood. Is it right to make that decision for them? And is it the best use of our capital?” he said.
*This is not investment advice.
