Canadian corporation Thornton Place has just started investing in Bitcoin and plans to continue to do so for the next 10 years, according to the press release shared by the company.
In particular, Thornton Place has purchased 0.4 Bitcoins for its reserve fund with 25,000 Canadian dollars in cash (around $20,000). The purchase was carried out through the US-based crypto exchange Kraken.
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Thornton Place has highlighted it has allocated an additional $700 per month to buy Bitcoins indefinitely. The Canadian corporation has taken direct physical custody of the Bitcoin, instead of hiring a custody service. It claims this is the first physical purchase of Bitcoins by a corporation in Canada. A Thornton Place spokesperson said:
"A small investment of approximately 5% of the overall Reserve Fund and 6% of the monthly Operating Fund contributions into Bitcoin will permit Thornton Place to gain a limited exposure to a high-performing asset class without jeopardizing any of the long-term goals of the corporation and its owners."
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