Leading blockchain analysis company Chainalysis announced on the 19th that it will add Bitcoin to the company’s balance sheet. The company realized this move in partnership with fintech firm NYDIG, enabling Chainalyis to buy and custody Bitcoin.
Chainalysis revealed that this will be the company’s first purchase of any digital asset, and will consider purchasing other digital assets in the future as well. The announcement has not revealed details related to acquisition price and size.
Michael Gronager, co-founder and CEO at Chainalysis said in a statement:
“Our longstanding relationship with NYDIG enabled us to invest with confidence, knowing we were dealing with an industry leader. This is Chainalysis’ first acquisition of cryptocurrency, and we will continue to pursue other digital assets as potential future investments.”
Chainalyis is a blockchain data analytics company that provides several services related to data, software, and research to governments, exchanges, financial institutions, cyber security companies, and others.
The company raised over $300 million in 2021, taking the company’s total valuation to $4.2 billion.