Robinhood Not Interested In Holding Bitcoin, Choose Focus On Increasing Services For Crypto Users

Robinhood, a leading crypto trading platform and shares. (Photo; Doc. Coingape)

Saving Bitcoin as an asset can provide its own advantages for companies, such as diversifying portfolios and protecting asset value from inflation. However, crypto trading platforms and Robinhood shares admit that they are not yet interested in storing Bitcoin. The company boss revealed the reason.

Robinhood CEO Vladimir Tenev revealed that although cryptocurrencies are increasingly the main focus of their trading platforms, unfortunately the company has no intention of making Bitcoin an investment asset.

In an interview on Monday, Tenev stated that the idea to keep Bitcoin "sometimes appears," but until now Robinhood prefers to use cryptocurrencies to meet the trading needs of their customers.

"We didn't rule out that, but so far it hasn't been done," Tenev said in an interview with Anthony Pompliano. "We're not an investment manager company."

Tenev also emphasized that the move to store Bitcoin on the balance sheet of the company, as did MicroStrategy and Tesla, could create confusion among investors, who may see Robinhood as a company with a different focus.

Robinhood recorded an increase in its share price (Tiker: HOOD) by 202% so far this year, compared to the increase in Bitcoin prices by 110%. According to Tenev, Robinhood's stock performance is closely related to Bitcoin price movements, even without the company holding Bitcoin as part of its balance sheet.

"If we hold Bitcoin for investment purposes, it might complicate investors' views on us," added Tenev.

In addition, analysts from Bernstein recently called Robinhood a major choice in the "crypto-deregulation trade" cycle following Donald Trump's victory in the US presidential election. They project that Robinhood's crypto revenue will increase by 20% by the end of 2025, accounting for 38% of the platform's total revenue.

However, Robinhood remains more conservative in offering digital asset investment options than other platforms such as Coinbase and Kraken. The company has a list of fewer tokens.

However, Robinhood's move to close the acquisition of the Bitstamp crypto exchange in the first half of 2025 shows the potential for future service expansion.