A whale sings in the rain – What a wonderful feeling, one of the most confident companies and credible on Bitcoin (BTC) shows record results. Indeed, NYDIG is in good shape. It raises $720 million and its Bitcoin balance reaches unprecedented levels!
$720 million and 130% revenue increase for NYDIG
First, it is a document of the well-known Security Exchange Commission (SEC) which reveals this lifting. NYDIG’s wish being to recover 720 million of dollars. That’s not the only news that suggests NYDIG is in good shape. A press release dated October 3, 2022 announces the ambitions of the company’s investments as well as its well buoyant.
The bear market hasn’t scared off one of the biggest bitcoin speculators. The company’s crypto balance has increased by no less than 100% compared to the year 2021. In addition, revenues are up by 130% in the second trimester. We should add that an increase is expected in the last quarter when the closing of books of account. More than ever the company seems to want to “buy the dip”. She holds more bitcoins than ever at a time when the price is at its lowest for a year.
The fundraising of 720 millions of dollars of bitcoins relates to the corporate institutional background. Those are 59 investors who contribute to fundraising up to $12 million each on average. At this time the SEC has not reviewed the information and does not know whether the information is accurate Where complete.
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NYDIG, the form of a company that promotes bitcoin
NYIDG is an investment company that enables the conservation (custody) of bitcoins to investors institutional and to individuals wealthy. NYDIG defines itself as a “Bitcoin company” and has wiped several denials of exchange-traded funds by the SEC. The group promotes the different aspects of bitcoin. It recently enabled employees of participating companies to receive their salary in BTC.
In the press release, NYDIG praises the Lightning Network. Also, the news was accompanied by a redesign of the direction by NYDIG. These are now Tejas Shah and Nate Conrad who will respectively assume the roles of CEO and of President. The outgoing CEO, Robert Gutmanand the outgoing president Yan Zhao will devote themselves solely to the management of the parent company Stone Ridge Holdings Group.
Shah and Conrad will focus on acceleration of NYDIG’s investment in their franchise Mining Solutions, serving miners in North America. Mining Solutions also helps banks and non-banking companies to use the lightning network for “next generation global wallets and payments”.
“The growth of the Lighting network is exponential, with access to approximately 100,000 people in August 2021 having grown to over 150 million today. NYDIG is privileged to play its part in facilitating global access to non-state money, especially at this critical time.»
Ross Stevens, Founder and Executive Chairman of NYDIG
The whale does indeed sing in the rain. Indeed, the economic situation is gloomy and the crypto market is heading underwater. But NYDIG believes that its bitcoin-focused investments have been able to attract investor confidence, and therefore revenue. The company announces that it is investing massively in a market in need of capital. And you? What position do you adopt vis-à-vis the BTC? Do you think that is the end of the bearmarket coming soon?
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