$10B Asset Manager Has $115M in BTC on Balance Sheet

The Bitcoin Treasury game is ramping up!

Happy Wednesday, Blockfolians

The Lede

The Bitcoin treasury game keeps getting hotter.

The latest entrant to the space is Stone Ridge Asset Management, who announced:

  • $50m in new growth funding for their crypto investment and custody subsidiary New York Digital Investments Group

  • 10,000 bitcoin on their balance sheet as their primary reserve asset.

NYDIG is quietly building a monster operation in the institutional bitcoin space:

  • >$1B assets under management

  • 4x growth in clients in 2020

  • Recent hires from Goldman Sachs

There’s a lot to like here, not least of which is this is fueling the bitcoin-as-a-corporate-treasury-asset narrative. As Ikigai’s Hans put it, just imagine what this will look like a few years from now.

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Final Thought

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