Blockchain research company Chainalysis plans to buy an unknown amount of bitcoins for the company’s balance sheet through brokerage services from New York Digital Investment Group.

In a blog post on Tuesday, Chainalysis said it will expand its partnership with the New York Digital Investment Group (NYDIG) to buy an unknown amount of bitcoin (BTC), which hit a five-month high of $ 63,293 earlier on Tuesday. … The company said the acquisition was “driven by strong confidence in bitcoin,” as well as NYDIG’s expertise in digital real estate.

“Chainalysis is focused on building confidence in cryptocurrency as a digital asset, and we are delighted to add bitcoin to the company’s investment portfolio,” said Michael Gronager, co-founder and CEO of Chainalysis. “This is the first acquisition of Chainalyse cryptocurrency and we will continue to use other digital assets as potential future investments.”

Following a $ 100 million round of fundraising in June, Chainalysis was valued at $ 4.2 billion. These companies were often used this year, when ransomware hackers demanding payment in cryptocurrency intensified their attacks. The company has investigated Russia’s Suex OTC, which was recently targeted by the US Treasury and acquired Excygent earlier this month to investigate cybercrimes.

Related Topics: Chainalysis Analyzes Cryptocurrency ‘Rising Momentum’ Due To Its Multi-Billion Dollar Value

Chainalysys’s investment in bitcoin will follow acquisitions from companies such as Tesla, Square, Voyager Digital, Galaxy Digital, and MicroStrategy. The business intelligence company owns 114,042 BTC worth over $ 7 billion at press time. Carmaker Tesla currently owns approximately 43,200 BTC, or about $ 2.7 billion.

Source: CoinTelegraph