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Is KPMG investing in cryptocurrencies?

Accounting firm KPMG is getting into cryptocurrencies. The firm announced in a press release on Feb. 7, 2021, that its Canada office had purchased Ethereum ( ETHUSD) and Bitcoin ( BTCUSD) for its corporate treasury. KPMG did not divulge the amount or figures related to its investment in cryptocurrencies.

Why is the KPMG report about bitcoin important?

According to Batten, the KPMG report — titled “Bitcoin’s role in the ESG Imperative” —is an “important moment, because it represents for the first time a mainstream financial institution having gone through a thorough due diligence process on Bitcoin.”

Why did KPMG buy Bitcoin & Ethereum?

KPMG Canada has purchased Bitcoin and Ethereum for its corporate treasury. The firm says that the investment reflects its belief that institutional adoption of cryptoassets will continue to grow.

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