Robinhood buys $25 million in Bitcoin to build a BTC reserve

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Robinhood to build a BTC reserve

Public companies continue to buy BTC

Robinhood has joined other public companies that hold Bitcoin on their balance sheets. Strategy, for example, recently reported buying another 334 BTC for roughly $28.7 million.

The purchase brought Strategy’s total Bitcoin holdings to 848,000 BTC. The coins were acquired between September 28 and October 4.

Robinhood expands its crypto business

The Bitcoin purchase is part of Robinhood’s broader push into crypto. Last week, the company announced plans to launch perpetual futures trading for eligible users in the U.S.

The list of supported assets is expected to include BTC, Ethereum, Solana, XRP, Dogecoin, ADA, LINK and HYPE. Users will be able to open both long and short positions, with profit and loss settled every 15 minutes.

At the same time, Robinhood is expanding its own Layer 2 network, Robinhood Chain, which is built using Arbitrum technology. The public mainnet went live in July, while total value locked reached $1.05 billion by Tuesday.

The company has also launched Stock Tokens, allowing users to trade tokenized stocks around the clock directly on Robinhood Chain.

According to Kerbrat, Robinhood has 28 million funded accounts, including 27 million in the U.S. and another 1 million outside the country. Robinhood Wallet is available in more than 120 countries.

Kerbrat also said trading volume in tokenized stocks is already approaching the limits set under the SEC’s innovation exemption. According to him, the company is still working through the regulatory parameters, including volume caps and the types of assets that can be tokenized.

Bitcoin reserves do not work for everyone

At the same time, the experience of other companies shows that simply adding BTC to the balance sheet does not guarantee success. In 2026, several public companies began reducing or completely unwinding their Bitcoin reserves. Sequans Communications, for example, sold its remaining 314 BTC in September and abandoned the strategy entirely to strengthen its balance sheet and refocus on its core semiconductor business. Satsuma Technology went even further: shareholders approved the sale of 668 BTC, the return of capital to investors, and the company’s delisting from the London Stock Exchange after its shares fell by more than 99%.

The problem is often not Bitcoin itself, but how the strategy is financed. Many companies bought BTC by issuing shares, taking on debt, or borrowing against their crypto holdings. Once the premium to the value of their Bitcoin reserves disappeared, raising new capital became much harder. Cango, for example, sold more than 4,400 BTC to partially repay a Bitcoin-backed loan, while Bitdeer had completely eliminated its Bitcoin reserve by the beginning of 2026.

As a reminder, Robinhood expanded round-the-clock trading.

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