Michael Gronager, CEO of Chainalysis, said: “This is Chainalysis’s first purchase of cryptocurrency. We will continue to explore other crypto assets as potential investment options in the future.”
Chainalysis, a blockchain analysis company, plans to purchase bitcoin for the company’s balance sheet through the brokerage service of the New York Digital Investment Group. The specific amount was not disclosed.
In a blog post on Tuesday, Chainalysis stated that it will expand its cooperation with the New York Digital Investment Group (NYDIG) to purchase Bitcoin (BTC), the cryptocurrency’s price reaching a five-month high early on Tuesday. The company stated that in addition to NYDIG’s expertise in the field of crypto assets, the purchase was “guided by strong confidence in Bitcoin.”
After a $100 million round of financing in June, Chainalysis was valued at $4.2 billion. This year, due to the rise in ransomware hacker attacks that require cryptocurrency payments, the company’s data is frequently used. The company investigated the Russian company Suex OTC, which was recently targeted by the US Treasury Department, and acquired cybercrime investigation company Excygent earlier this month.
Prior to Chainalysis, companies including Tesla, Square, Voyager Digital, Galaxy Digital, and MicroStrategy had purchased Bitcoin as part of the company’s portfolio. This business intelligence company holds 114,042 BTC, valued at more than $7 billion as of press time. The automaker Tesla currently holds an estimated 43,200 BTC, worth approximately US$2.7 billion.