As part of its new corporate treasury strategy, Benzinga, a financial media and data provider, has begun crypto investment.

What Happened: Benzinga has collaborated with crypto brokerage firm TradeStation Crypto, a subsidiary of TradeStation Group, Inc., to allocate a portion of its cash reserves to cryptocurrency.

“As crypto news grows in popularity, Benzinga is making a short-term and long-term financial investment in digital assets,” said the company in a press release.

Benzinga could earn up to 6% per year on its crypto holdings through its TradeStation crypto account.

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1. Crypto Investment

1.1. 1% Deposit Bonus & Withdrawal Fees On Crypto Deposit in BuyUcoin

1.2. A Decade in the Making: US SEC Approves 11 Bitcoin ETFs, Igniting Market Enthusiasm

1.3. Will Bitcoin Price Increase 200% When Bitcoin ETF Is Approved?

1.4. 10 Must-Have Features on Bitcoin Staking Site

1.5. Christmas in the cryptocurrency world arrives early as the pre-holiday crypto market heats up

Crypto Investment

Why It Matters: “We are seeing increased participation in crypto investing at the corporate level, and we’re proud to educate and provide companies like Benzinga with the tools needed to invest in crypto assets,” said James Putra, Senior Director, Product Strategy at TradeStation Crypto.

Indeed, the media platform has joined a growing list of corporations that have incorporated Bitcoin (CRYPTO: BTC) and other cryptocurrencies into their treasury management strategy.

To date, 21 publicly traded companies have some of their cash reserves in Bitcoin. This is led by MicroStrategy Incorporated (NASDAQ: MSTR), which owns more than $5.2 billion in Bitcoin, and Tesla Inc (NASDAQ: TSLA), which owns $2.7 billion in the leading digital asset.

“Though not without some added risks, through higher interest rates and a bullish outlook on crypto, Benzinga has the potential to generate more cash in the short-term, while also investing in what could prove to be the monetary system of the future,” said Luke Jacobi, Director of Operations at Benzinga

What Else: Bitcoin has gained nearly 5% in the last 24 hours and is currently trading around $57,300. Overnight, the total crypto market cap increased by more than 9.16 percent, crossing $2.09 trillion for the second time.

Source : PrNewswire