Stone Ridge Calls Its $114M in Bitcoin 'Primary Treasury Reserve Asset'; NYDIG Unit Raises $50M
NYDIG raised the $50 million from FinTech Collective, Bessemer Ventures and Ribbit Capital.
Oct 13, 2020 at 3:19 p.m. UTCUpdated Aug 19, 2021 at 4:58 a.m. UTC
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Stone Ridge Holdings Group is stashing 10,000 BTC with the institutional asset manager's crypto subsidiary NYDIG, which on Tuesday announced it raised an additional $50 million in funding.
- The private firm called bitcoin its new "primary treasury reserve asset" in a statement shared with CoinDesk. That language was first adopted by publicly traded MicroStrategy.
- VC fund FinTech Collective led the NYDIG raise with participation from Bessemer Ventures and Ribbit Capital, Forbes reported.
- NYDIG is one of a handful of companies to wield New York state's BitLicense. It maintains a series of multi-million dollar crypto funds and offers prime brokerage and custody services to institutional clients.
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