Crypto tracer Chainalysis has added bitcoin to its corporate balance sheet.
- The $4.2 billion software company said Tuesday it purchased an undisclosed amount of BTC through NYDIG, an institutional bitcoin management firm popular on Wall Street.
- CEO Michael Gronager called it Chainalysis’ first crypto buy: “We will continue to pursue other digital assets as potential future investments,” he said in a statement.
- Holding bitcoin as a reserve asset was popularized last year by MicroStrategy and has since caught on with the bitcoin mining crowd. Few public or private companies have done it, however, though Coinbase and BitGo stand out from the pack.
Read more: Crypto Sleuthing Firm Chainalysis Raises $100M, This Time at $4.2B Valuation