Bitcoin price steady as $10B asset manager scoops up 10,000 BTC

Bitcoin price steady as $10B asset manager scoops up 10,000 BTC


Bitcoin (BTC) is winning the battle of the safe havens as another corporate buy-in sees $115 million enter its books.

Asset management giant Stone Ridge confirmed that it made the significant purchase via its spin-off New York Digital Investment Group or NYDIG, which now has over $1 billion in assets under management.

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“The macro backdrop against the public health backdrop has caused a lot of people to rethink their portfolio composition,” the company’s new CEO, Robert Gutmann, told Forbes on Oct. 13.

Michael Saylor, CEO of MicroStrategy, which purchased $425 million of BTC in August and September, responded:

“As the trillions of dollars on the balance sheets of banks, asset managers, insurance firms, endowments, & family offices begin their migration to the #Bitcoin universe, they will need firms like NYDIG to guide them.  $1 billion down, more to go.”

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