Yahoo Crypto Market • October 8th 2026, 1:10 PM
Robinhood Bought Bitcoin for Its Own Balance Sheet, Then Fell Back Below $100 Billion
Key Summary
Robinhood quietly purchased $25 million of Bitcoin for its balance sheet the same day its stock shed $2 billion in value, but the crypto purchase and subsequent selloff paint a different picture of the company's trajectory. Despite the decline, analysts are raising their targets as prediction-market revenue now exceeds crypto's $100 million. The company's balance sheet is far less affected by the Bitcoin purchase than expected, with second-quarter crypto revenue down 38% and equities revenue rising 95%.
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Company Performance
Robinhood closed at $109.51, with a 2.22% decline in the day's trading, leaving the company worth $98.46 billion.Recent Developments
A senior executive disclosed that Robinhood had bought $25 million of Bitcoin for its corporate treasury the same morning its stock shed over $2 billion in market value.Market Reaction
Analysts have raised their targets, with Barclays lifting its target to $132 from $105 and Bank of America to $156 from $140.Cryptocurrency Impact
Bitcoin fell about 3% and traded around $83,700 that morning, directly pressuring the crypto-linked part of Robinhood's business.Other Factors
A congressional report flagged Webull's China ties as a national-security risk, sending Webull down 19.09% to $5.89 while Interactive Brokers dropped 3.14%.Analysis
The purchase of Bitcoin for its balance sheet is a gesture towards crypto-native customers and is far too small for bitcoin's price to move the company's earnings.Revenue Mix
Equities revenue rose 95%, options revenue rose 29%, and Gold subscribers climbed to 4.8 million.Analyst Estimates
Of 29 analysts covering the stock, six rate it Strong Buy, 18 Buy, three Hold, and one each Sell and Strong Sell.#Bitcoin#US#Crypto#SEC