Chinalysis will add Bitcoin to its balance sheet as prices rise

Blockchain analytics firm Chanellysis plans to buy an undisclosed amount of bitcoin for the firm’s balance sheet through the brokerage services of the New York Digital Investment Group.

In a blog post on Tuesday, Chinalysis said it would increase its partnership with the New York Digital Investment Group, or NYDIG, to buy an anonymous bitcoin (BTC), which hit a five-month high of $ 63,293 on Tuesday. The company said the acquisition was driven by NYDIG’s expertise in the digital asset space, as well as “strong confidence in Bitcoin”.

Chosenalysis is laser-focused on its commitment to building trust in cryptocurrency as a digital asset, and we are thrilled to be able to add Bitcoin to our corporate investment portfolio, saying,

After raising 100 million in funds in June, Chinalysis was valued at 4. 4.2 billion. This year’s firm data has been used frequently as ransomware hackers escalate their attacks to demand payment in cryptocurrencies. The agency has investigated Russia-based business Suez OTC, recently targeted by the U.S. Treasury Department, and acquired cybercrime investigative agency Excise earlier this month.

Related: The cryptocurrency of Chinalysis has ‘higher speeds’ thanks to the multi-billion dollar valuation

Chanellysis ’bitcoin investment will follow purchases from companies including Tesla, Square, Voyager Digital, Galaxy Digital and Micro Strategy. The business intelligence firm holds 114,042 BTC, more than 7 7 billion at the time of publication. Carmaker Tesla currently holds an estimated 43,200 BTC, or roughly $ 2.7 billion.