KPMG Canada announced this week that it has invested directly in Bitcoin and Ethereum – the two cryptocurrencies with the highest market cap.
There seems to be a growing movement of major institutional players adding cryptocurrencies to their balance sheets. We previously saw MicroStrategy, Square and Tesla among the big names that invested in cryptocurrencies, now we see KPMG joining them.
The accounting giant’s Canadian arm said in a statement on Monday that the investment reflects its “belief that institutional adoption of crypto assets and blockchain technology will continue to grow and become a regular part of the asset mix.”
KPMG is an Anglo-Dutch multinational and one of the "big four" accounting organizations, which includes PricewaterhouseCoopers, Deloitte and Ernst & Young.