Bitcoin will now be included as an investment by blockchain data platform Chainalysis. According to the CEO, this is the company’s first foray into cryptocurrencies. Analysis firms estimate the worth of chainalysis at 4.2 billion dollars.
Chainalysis Makes Its First Cryptocurrency Acquisition
Chainalysis is a tool for storing and analysing data on the blockchain. Our products and services are used in over 60 countries by government agencies, stock exchanges, financial institutions, insurance companies, and cybersecurity firms. With our data, we’ve been able to solve some of the most high-profile criminal cases in the world and expand consumer access to cryptocurrencies in a secure manner.
Chainalysis, a company that analyses blockchain data, has now added bitcoin to its books. Chainalysis will buy bitcoin from Stone Ridge Asset Management’s bitcoin investment arm, the New York Digital Investment Group (NYDIG). NYDIG will also be in charge of keeping track of the coins you buy from them. Since 2018, NYDIG has partnered with Chainalysis on compliance technologies.
According to Chainalysis, “digital assets have arisen as an alternative asset class for consumers, companies, governments, banks, and financial institutions.”
Chainalysis co-founder and CEO Michael Gronager had the following to say:
AS A CORPORATE INVESTMENT COMPANY, WE’RE EXCITED TO BE INVOLVING IN BTC… CHINALYSIS HAS JUST MADE ITS FIRST ACQUISITION OF CRYPTOCURRENCY AND WILL CONTINUE TO SEARCH FOR POTENTIAL INVESTMENT OPPORTUNITIES IN OTHER DIGITAL ASSETS.
A recent $300 million funding round valued Chainalysis at $4.2 billion, according to the blockchain data business.
In recent years, an increasing number of businesses have begun to hold bitcoin as part of their financial assets. It appears as though Microstrategy, which has 114,042 bitcoins in its possession, is the public company with the most BTC in its possession. Tesla, the electric vehicle manufacturer founded by Elon Musk, came in second with roughly 42,000 BTC.
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