Buying Bitcoin as a company reserve asset? Robinhood CEO: Discussed, but no plans at the moment

Robinhood CEO Vladimir Tenev recently stated in an interview on Anthony Pompliano's program that as Robinhood's interest in cryptocurrency continues to grow, the idea of "Bitcoin reserves" is occasionally brought up. But apart from holding some Bitcoin to meet customers' trading needs, the company currently has no plans to hold Bitcoin as an investment asset.

We won't rule out this possibility. But so far, we haven't done it. Our business is not essentially investment management

Vladimir Tenev Furthermore, it should be noted that although Robinhood did not follow in the footsteps of micro strategy and Tesla to include Bitcoin on its balance sheet, the company's stock price is already highly correlated with Bitcoin, even if the company does not hold Bitcoin.

Robinhood (HOOD) has risen 202% this year, while Bitcoin's year to date return rate is 110%.

In addition, Vladimir Tenev If Robinhood were to use Bitcoin as a company reserve, it could complicate investors' perceptions of the company and even be seen as a 'simulated Bitcoin concept stock'.