Chainalysis becomes the latest company to add BTC to its balance sheet

The number of corporate entities with Bitcoin holdings continues to increase.

Chainalysis adds BTC to its balance sheet

Blockchain analytics firm Chainalysis announced that it had purchased an undisclosed amount of bitcoin for its balance sheet. The company joins the likes of Tesla, SpaceX and MicroStrategy in adding bitcoins to their books.

Chainalysis partnered with NYDIG to complete the acquisitions of the bitcoins. In a blog post yesterday, Michael Gronager, co-founder and CEO at Chainalysis, said,

Chainalysis is laser-focused on its commitment to building trust in cryptocurrency as a digital asset, and 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.

Nate Conrad, NYDIG’s Head of Asset Management, said they are happy with the partnership with Chainalysis. He added that Chainalysis has been building trust in the digital asset ecosystem for a long time, and this investment shows their belief that bitcoin is a sound investment for the future.

Corporate entities are buying bitcoins

The last few months have been really interesting for the cryptocurrency space as adoption grew to new highs. Numerous corporate entities have added Bitcoin to their balance sheets as the value of the cryptocurrency grew.

Tesla, SpaceX and MicroStrategy have bought BTC’s worth billions of dollars over the past few months.