$13 Billion Asset Manager Stone Ridge Buys 10,000 Bitcoins ($115 Million)


  • One more main firm has jumped on the Bitcoin bandwagon by buying 10,000 BTC and placing it to make use of as its main treasury reserve asset.


  • Based on an official press launch, the $13 billion asset supervisor scooped up the BTC by means of its subsidiary known as New York Digital Funding Group (NYDIG).


  • Talking on the matter was Robert Gutmann, Co-Founder and CEO of NYDIG, who stated that “As Bitcoin transitions to a predominantly institutionally-owned asset, NYDIG is best positioned than ever to be the main supplier of Bitcoin options to companies, establishments, and banks.  NYDIG grew out of the core capabilities we developed in 2017 to handle Stone Ridge Holdings Group’s funding and treasury holdings in Bitcoin, and right this moment we serve our shoppers with the identical platform.”


  • As well as, the CEO additionally stated that his firm is proud to have “facilitated one of many largest commitments of treasury property to Bitcoin introduced so far, and see demand for our full suite of company treasury and funding options accelerating.”


  • With this, Stone Ridge Asset Administration, which at the moment boasts upwards of $13 billion in AUM, turns into subsequent in line to buy a significant chunk of Bitcoins.


  • As CryptoPotato reported, Jack Dorsey’s Sq. and MicroStrategy are one other two publicly-listed corporations that now personal huge chunks of the world’s main cryptocurrency.


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Source link Crypto Potato


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