Blockchain data platform Chainalysis has announced that it is adding bitcoin to its corporate investment portfolio. This is the company’s first acquisition of cryptocurrency, the CEO revealed. Chainalysis is valued at $4.2 billion.
Chainalysis’ First Acquisition of Cryptocurrency
Blockchain data analytics firm Chainalysis announced Tuesday the addition of bitcoin to its balance sheet.
Chainalysis will acquire bitcoin using the brokerage services of the New York Digital Investment Group (NYDIG), the bitcoin investment arm of Stone Ridge Asset Management. NYDIG will also provide custody of the coins purchased. Chainalysis has been NYDIG’s compliance technology partner since 2018.
“Digital assets have emerged as an alternative asset class for consumers, enterprises, governments, banks, and financial institutions,” Chainalysis noted, adding that it “is laser-focused on its commitment to building trust in cryptocurrency as a digital asset.”
Michael Gronager, co-founder and CEO at Chainalysis, commented:
We are thrilled to be adding bitcoin to our corporate investment portfolio … This is Chainalysis’ first acquisition of cryptocurrency, and we will continue to pursue other digital assets as potential future investments.