KPMG Canada adds Bitcoin and Ethereum to its corporate treasury

Alex Dovbnya

The Canadian arm of accounting giant KPMG has put some of its treasury funds into Bitcoin and Ethereum

KPMG Canada, a member of the “Big Four” accounting giant KPMG, has added Bitcoin and Ethereum, the two largest cryptocurrencies, to its corporate balance sheet, according to a Feb. 7 report. press release.

It also bought carbon credits to allay concerns about the environmental impact of its investment by helping to reduce greenhouse gas emissions.

Benjie Thomas, KPMG Canada’s managing partner for advisory services, described cryptocurrencies in his statement as a “growing asset class”, noting that an increasing number of institutional investors have begun to participate in the market. The company believes that institutional adoption of cryptocurrencies will continue to accelerate:

This investment reflects our belief that institutional adoption of crypto assets and blockchain technology will continue to grow and become a regular part of the asset mix.

KPMG reported global revenue of a staggering $32.13 billion in 2021.

The Canadian arm of the major accounting firm has followed MicroStrategy and Tesla in helping to drive the Bitcoin adoption story by businesses.

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