Bitcoin News

As Bitcoin Price Reaches Its All Time Highs, Chainalysis Adds It To Its Balance Sheet.

Chainalysis, a blockchain analytics business, aims to buy an undisclosed quantity of Bitcoin through the brokerage services of New York Digital Investment Group for its balance sheet.

Chainalysis announced on Tuesday that it will expand its cooperation with the New York Digital Investment Group, or NYDIG, to purchase an undisclosed quantity of Bitcoin (BTC), which hit a five-month high of $63,293 earlier that day. The purchase was “driven by significant confidence in Bitcoin” as well as the NYDIG’s expertise in the digital asset market, according to the firm.

We are happy to be adding Bitcoin to our corporate investment portfolio,” Chainalysis co-founder and CEO Michael Gronager remarked. This is Chainalysis’ first cryptocurrency buy, and we’ll be looking for more digital assets to invest in in the future.

Chainalysis was valued at $4.2 billion after a $100 million funding round in June. As ransomware hackers demanding payment in bitcoin ramped up their attacks this year, data from the firm was frequently used. The firm examined Suex OTC, a Russian company that was recently pursued by the US Treasury Department, and earlier this month purchased cybercrime investigation firm Excygent.

Tesla, Square, Voyager Digital, Galaxy Digital, and MicroStrategy are among the companies that have purchased Bitcoin via Chainalysis. At the time of publication, the business intelligence firm held 114,042 BTC, worth more than $7 billion.

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