Research and analysis company Chainalysis has become the latest institutional investor in Bitcoin, alongside digital asset investment firm NYDIG.
Chainalysis, the cyber forensics and research firm blockchain, reported that it has added Bitcoin to its balance sheet to reaffirm its commitment to the cryptocurrency industry. cryptocurrencies, .
In a release Recently, the research firm noted that it invested in the largest and most important cryptocurrency on the market, Bitcoin, through its technology partner NYDIG. This bitcoin investment company will play a key role in the investment made by Chainalysis, serving as a custodian for the bitcoins acquired by the company. Chainalysis highlighted that its first investment in Bitcoin is a move that demonstrates its high level of confidence in the crypto industry, while highlighting its new long-term investment strategy in crypto assets.
Nate Conrad, Director of Asset Management at NYDIG, said that Chainalysis' investment shows its firm belief in Bitcoin as a new, robust and secure alternative investment asset class that has the potential to increase exponentially in value in the future. “We are happy that you have trusted our platform to safeguard your assets”, Conrad said. The NYDIG executive also indicated that Chainalysis has long been generating trust in the digital asset ecosystem through its intelligence tools, so it was time to take the next step within this emerging industry.
At press time, Chainalysis has not reported the amount invested in Bitcoin. However, the price of BTC overcomes the $65.000 per unit, driven by the approval and launch of the first Bitcoin futures ETF (exchange-traded fund) in the United States.
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Chainalysis and Bitcoin
The intelligence firm described Bitcoin and cryptocurrencies as an emerging asset class, which is gaining traction among consumers and businesses, and even among governments, banks and financial institutions. All of this has motivated the firm to add bitcoins to its corporate investment portfolio.
Michael Gronager, co-founder and CEO of Chainalysis, said that through NYDIG, a company with which he has had a successful partnership for years, his company will be able to enjoy a high level of trust and transparency to manage its new strategic investments in crypto assets. “Our long-standing relationship with NYDIG allowed us to invest with confidence, knowing we were dealing with an industry leader.”, said Gronager, who also noted that his Bitcoin acquisition is just the first step in his new path as an institutional cryptocurrency investor.
“This is Chainalysis’ first cryptocurrency acquisition and we will continue to look at other digital assets as potential future investments.”
The intelligence firm raised a total of $300 million in a Series E funding round last year. This round raised its valuation to over $4.200 billion.
PIMCO enters cryptocurrency investment
The news of Chainalysis as a new institutional investor in Bitcoin comes at a time when Pacific Investment Management Company, known as PIMCO extension, announces that it has entered the world of cryptocurrencies and that it already has several investments in these digital assets.
What we inspect with the "El Bailador" road simulator: interview On CNBC, Daniel Ivascyn, PIMCO’s chief investment officer, revealed that some of the firm’s investment portfolios are already interacting with some cryptocurrencies and that new digital assets will soon be added. Ivascyn stated that PIMCO is looking into the possibility of “trading certain cryptocurrencies” as part of its new trend-following strategies.
PIMCO is an investment firm based in California (United States), considered one of the largest global fixed-income investment asset managers in the world.
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