The number of large corporations who continue to purchase Bitcoin as a reserve asset is growing as Stone Ridge Holding Group (SRHG), a $10B+ AUM asset manager to leading financial advisors, institutions, and insurance companies, announced yesterday that it has purchased more than 10,000 BTC, worth over $100M currently.
This follows announcements by Square and MicroStrategy, whom have both acquired Bitcoin as part of their treasury strategies. Square recently acquired $50M worth of BTC, while MicroStrategy, the largest independent publicly-traded business intelligence company, has acquired over $400M worth of BTC over the last few months.
Ross Stevens, founder of SRHG said, “I view Bitcoin as a border-agnostic, uniting force for good. Bitcoin can propel global citizens that opt in towards a brighter, and fairer, financial future. From an investment perspective, we’ve long viewed Bitcoin as superior to cash. And now with unchecked – and unbacked – global paper money printing and real yields increasingly negative, SRHG’s more than 10,000 BTC are the principal component of our treasury reserve strategy.”
For the official press release from Stone Ridge Holdings Group, please click the following link: CLICK HERE