Robinhood’s Vlad Tenev Once Deemed HOOD Stock ‘Highly Correlated’ With Bitcoin—Here’s How The Relation Has Shifted In 2025
Commission-free trading platform Robinhood Markets Inc. (NASDAQ:HOOD) has seen cryptocurrencies take a larger share of its reported revenues in recent years, rendering it susceptible to their market movements to some extent.
What happened: None other than CEO Vlad Tenev conceded in a December interview that the HOOD stock was “highly correlated” with Bitcoin (CRYPTO: BTC), the world’s largest cryptocurrency by market capitalization, despite Robinhood not accepting Bitcoin as a treasury reserve asset.
Tenev made the remark when Bitcoin was in the middle of a bull run, having crossed the $100,000 milestone earlier in the month.
At the time, the correlation coefficient between Bitcoin and the HOOD stock was around 0.70, according to TradingView, indicating a strong positive linear relationship between the two assets. This meant that as one increased, the other tended to follow suit.
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