4 years ago

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

George Georgiev Oct 13, 2020 18:14

An asset management company with over $13 billion in AUM has revealed that it's bought 10,000 BTC as part of its primary treasury reserve asset.

Yet another major company has jumped on the Bitcoin bandwagon by purchasing 10,000 BTC and putting it to use as its primary treasury reserve asset.

According to an official press release, the $13 billion asset manager scooped up the BTC through its subsidiary called New York Digital Investment Group (NYDIG).

Speaking on the matter was Robert Gutmann, Co-Founder and CEO of NYDIG, who said that “As Bitcoin transitions to a predominantly institutionally-owned asset, NYDIG is better positioned than ever to be the leading provider of Bitcoin solutions to corporations, institutions, and banks. NYDIG grew out of the core capabilities we developed in 2017 to manage Stone Ridge Holdings Group’s investment and treasury holdings in Bitcoin, and today we serve our clients with the same platform.”

In addition, the CEO also said that his company is proud to have “facilitated one of the largest commitments of treasury assets to Bitcoin announced to date, and see demand for our full suite of corporate treasury and investment solutions accelerating.”

With this, Stone Ridge Asset Management, which currently boasts upwards of $13 billion in AUM, becomes next in line to purchase a major chunk of Bitcoins.

As CryptoPotato reported, Jack Dorsey’s Square and MicroStrategy are another two publicly-listed companies that now own big chunks of the world’s leading cryptocurrency.

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George Georgiev

Georgi Georgiev is CryptoPotato's editor-in-chief and seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

Tags: Bitcoin

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

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