KPMG’s Canadian subsidiary – one of the “Big Four” international accounting firms – has just confirmed the addition of bitcoin and ethereum to its corporate coffers. The purchase is said to “reflect the firm’s commitment to emerging technologies and asset classes”.
- According to a newswire press release, KPMG also included a carbon offset with the purchase, in order to maintain net-zero emissions on the respective purchases. Bitcoin and Ethereum are often criticized for their energy footprint due to their proof-of-work consensus mechanisms, but are increasingly becoming less carbon-intensive networks.
- The crypto assets were acquired through the execution and custody services of Gemini – a Winklevoss-owned cryptocurrency exchange.
- This marks the company’s first ever cryptocurrency allocation. However, it has engaged with the industry in other ways over the years, such as providing tools to help provide crypto-asset services to institutional clients.
- KPMG was also responsible for a 2019 study that showed Gen Z’s huge interest in cryptocurrencies.
- Canadian Managing Partner at KPMG, Benji Thomas, calls crypto a “mature asset class” and believes it will be widely recognized like any other traditional asset in the future.
-
“Investors such as hedge funds and family offices for large insurers and pension funds are increasingly turning to crypto-assets,” he said, “and traditional financial services such as banks, financial advisors and brokerages with crypto-related products and Looking for services to offer.” -Properties.”
- Tesla and Microstrategy are prime examples, which have added billions of dollars in bitcoin to their corporate coffers. El Salvador is the first known nation-state to take similar action and continues to do so.
PrimeXBT Special Offer: Use this link and enter code POTATO50 to get 25% off on trading fees.