Chainalysis Expands Its Balance Sheet With Bitcoin
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Oct. 19, 2021

Chainalysis, a blockchain forensic firm, has listed bitcoin (EXANTE: Bitcoin) into its balance sheet as part of long-standing partnership with NYDIG. According to an announcement, Chainalysis will buy the cryptocurrency through NYDIG's brokerage services.

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"Chainalysis has long been building trust in the digital asset ecosystem, and this investment shows their belief that bitcoin is a sound investment for the future," said Nate Conrad, NYDIG's Head of Asset Management.

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While the amount of Chainalysis' allocation in bitcoin remains undisclosed, Michael Gronager, Chainalysis CEO, said that the firm will continue to "pursue other digital assets as potential future investments."

The move comes after Chainalysis' valuation reached the $4.2 billion mark as a result of its latest Series E funding round led by Coatue. As iHodl reported, the New York-based firm raised $100 million from a pool of investors, including Benchmark, Accel, Addition, Dragoneer, and many others.

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