Chainalysis will add Bitcoin ( $21,478.00 ) to its balance sheet as price surges

Blockchain analytics firm Chainalysis plans to purchase an undisclosed amount of Bitcoin ( $21,478.00 ) for the firm’s balance sheet through New York Digital Investment Group’s brokerage services.

In a Tuesday blog post, Chainalysis said it will expand its partnership with the New York Digital Investment Group, or NYDIG, to buy an undisclosed amount of Bitcoin ( $21,478.00 ) (BTC), the price of which reached a five-month high of $63,293 earlier on Tuesday. The firm said the purchase was “guided by strong confidence in Bitcoin” in addition to the NYDIG’s expertise in the digital asset space.

“Chainalysis is laser-focused on its commitment to building trust in cryptocurrency as a digital asset, and we are thrilled to be adding Bitcoin ( $21,478.00 ) to our corporate investment portfolio,” said Chainalysis co-founder and CEO Michael Gronager. “This is Chainalysis’ first acquisition of cryptocurrency, and we will continue to pursue other digital assets as potential future investments.”

Following a $100 million fundraising round in June, Chainalysis was valued at $4.2 billion. Data from the firm has often been used this year as ransomware hackers demanding payment in cryptocurrency stepped up their attacks. The company investigated Russia-based business Suex OTC, recently targeted by the United States Treasury Department and acquired cybercrime investigative firm Excygent earlier this month.

Related: Chainalysis has crypto’s ‘heightened momentum’ to thank for multibillion-dollar valuation

Chainalysis’ Bitcoin ( $21,478.00 ) investment will follow purchases from companies including Tesla, Square, Voyager Digital, Galaxy Digital, and MicroStrategy. The business intelligence firm holds 114,042 BTC, worth more than $7 billion at the time of publication. Car manufacturer Tesla currently holds an estimated 43,200 BTC, or roughly $2.7 billion.



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