Blockchain analytics firm Chainalysis plans to purchase an undisclosed amount of Bitcoin for the firm'south balance sheet through New York Digital Investment Group's brokerage services.

In a Tuesday web log post, Chainalysis said it will expand its partnership with the New York Digital Investment Group, or NYDIG, to buy an undisclosed amount of Bitcoin (BTC), the price of which reached a v-month high of $63,293 earlier on Tuesday. The firm said the purchase was "guided past potent conviction in Bitcoin" in add-on to the NYDIG's expertise in the digital nugget space.

"Chainalysis is light amplification by stimulated emission of radiation-focused on its delivery to building trust in cryptocurrency as a digital nugget, and nosotros are thrilled to be calculation Bitcoin to our corporate investment portfolio," said Chainalysis co-founder and CEO Michael Gronager. "This is Chainalysis' get-go acquisition of cryptocurrency, and we volition continue to pursue other digital avails equally potential future investments."

Following a $100 one thousand thousand fundraising round in June, Chainalysis was valued at $4.2 billion. Data from the business firm has often been used this year as ransomware hackers demanding payment in cryptocurrency stepped upwardly their attacks. The company investigated Russia-based concern Suex OTC, recently targeted past the United States Treasury Section and caused cybercrime investigative firm Excygent earlier this calendar month.

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Chainalysis' Bitcoin investment will follow purchases from companies including Tesla, Square, Voyager Digital, Milky way Digital, and MicroStrategy. The business intelligence business firm holds 114,042 BTC, worth more than $7 billion at the time of publication. Car manufacturer Tesla currently holds an estimated 43,200 BTC, or roughly $ii.vii billion.