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Sunday, October 18, 2020

AFTER SQUARE, IT'S STONE RIDGE'S TURN TO BUY 10,000 BITCOINS!


 

Square, a Jack Dorsey-led payment system company, bought 4,709 Bitcoins. Now it's the turn of the asset management company, Stone Ridge, to buy 10,000 Bitcoins as the main reserve asset. According to an official press release, the company purchased a subsidiary of New York Digital Investment Group (NYDIG).


On this issue, Robert Gutmann, Co-Founder and CEO of NYDIG, said Bitcoin is a largely institutionally owned asset. NYDIG strives to be a leading provider of Bitcoin solutions to other companies, institutions, and banks. NYDIG was developed in 2017 as a core capability to manage bitcoin investments and asset holdings, Stone Rodge Holdings Group.


Robert Gutmann also added that he was very proud to have facilitated one of the company's biggest commitments. 


This move marks a major step in the crypto world, especially Bitcoin. Moreover, institutional companies, Stone Ridge Asset Management is among the large companies offering more than $13 billion Asset Under Management!


Will Bitcoin rally past $12,000 after this?

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