Digital Asset Exchange Binaryx Offers Businesses to Put Bitcoin on Their Balance Sheet
Using Binaryx Companies Can Diversify their Portfolio Without the Challenges of Buying and Safekeeping Digital Assets Directly
Binaryx, European digital asset exchange, launches a new service, offering businesses indirect exposure to Bitcoin and other digital assets. Investing in a number of popular cryptocurrencies via Binaryx could be safer and easier for companies than holding the digital currency directly.
Binaryx offers custody accounts, allowing clients to securely acquire and hold and withdraw crypto and digital assets. To buy or sell large volumes of Bitcoins or other cryptocurrencies, Binaryx offers OTC trading services to avoid unfavorable price movements.
Many businesses view the recent interest in Bitcoin shown by public companies as a sign to follow the trend. Large public companies like MicroStrategy, Galaxy Digital, Goldman Sachs, started to diversify their portfolios with digital assets in August 2020. According to CoinGecko, public companies currently hold over 193k of Bitcoin (equivalent $6,5 billions), which is 5% of all Bitcoin, and this amount grows exponentially. In addition, 3% of all Bitcoins in circulation belongs to Grayscale, a well-established authority in cryptocurrency asset management, which holds crypto assets for other businesses.
Taking into account the growing trend, Binaryx opens the opportunity for the European companies to consider the idea of holding Bitcoin and other cryptocurrencies.