The analysis and research company Chainalysis became the new institutional investor of Bitcoin, hand in hand with the investment firm in digital assets NYDIG.
Chainalysis, the forensic analysis and investigation firm in blockchainreported that it has added Bitcoin to its balance to reaffirm its commitment to the industry of the cryptocurrencies.
In a release Recently, the research company 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 also highlighting its new long-term crypto asset investment strategy.
Nate Conrad, director of asset management at NYDIG, said that the investment made by Chainalysis shows its strong belief in Bitcoin, as a new, strong and safe alternative investment asset class, which has the potential to appreciate exponentially in the future. “We are happy that they have trusted our platform to safeguard their assets”Conrad said. The NYDIG executive also indicated that Chainalysis has been building trust in the digital asset ecosystem through its intelligence tools for a long time, so it was time to take the next step in this emerging industry.
At press time, Chainalysis has not reported the amount invested in Bitcoin. However, the price of BTC exceeds the $65,000 per unit, fueled 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 ground among consumers and businesses, and even among governments, banks and financial institutions. All this has motivated the firm to add bitcoins to its corporate investment portfolio.
Michael Gronager, co-founder and CEO of Chainalysis, stated that through NYDIG, a company with which he has had a successful partnership for years, his company will be able to have 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 that we were dealing with an industry leader”said Gronager, who also noted that his acquisition of Bitcoin is only the first step in his new path as an institutional investor in cryptocurrencies.
“This is Chainalysis’s 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 more than $4.2 billion.
PIMCO enters the investment in cryptocurrencies
The news of Chainalysis, as a new institutional investor in Bitcoin, comes as Pacific Investment Management Companyknown as PIMCOannounces that it has ventured into the world of cryptocurrencies and that it already has several investments in these digital assets.
During a interview On CNBC, Daniel Ivascyn, Chief Investment Officer at PIMCO revealed that some of the firm’s investment portfolios are already interacting with some cryptocurrencies and new digital assets will be added soon. Ivascyn stated that PIMCO is looking at 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 managers of global fixed income investment assets in the world.
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