Robinhood Markets delivered a strong performance in crypto trading volume in the third quarter, beating expectations on both revenue and profitability.
The company's total third-quarter trading revenue increased 129% year over year, with cryptocurrency revenue reportedly being the primary driver of this growth.
Robinhood executives were also asked about plans to add Bitcoin to corporate treasuries, as many publicly traded companies have introduced digital asset treasuries this year.
Robinhood executive Shiv Verma gave a cautious answer when asked if the company is considering making Bitcoin and other digital assets part of its corporate finance strategy.
Verma said the company is focused on being in tune with the cryptocurrency community and being an important part of this ecosystem.
“We are committed to cryptocurrencies and are very happy that our customers are interested in this space. But we also always ask the question: Is this the right thing 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, which also impacts its use of capital.
“Our shareholders can already buy Bitcoin directly through Robinhood. Is it right to make that decision for our shareholders? And is it the best use of our capital?” he said.
*This is not investment advice.
