Robinhood Markets (HOOD +0.18%) disclosed on Oct. 7 that it had invested $25 million of its own money into buying Bitcoin (BTC -0.01%) to hold on its balance sheet, which Robinhood crypto chief Johann Kerbrat told The Block mainly signals commitment to the crypto community. The news arrives just a few months after the company launched its new blockchain, the Robinhood Chain.
So what does Robinhood’s move with Bitcoin really mean for investors? Let’s dive in.
Image source: The Motley Fool.
This buy won’t do much to boost the coin or the stock
First, let’s establish some important context: This Bitcoin purchase was negligible in size compared to Robinhood’s assets.
The company reported holding $5.4 billion of cash and cash equivalents…







