KPMG Canada adds Bitcoin to its balance sheet

KPMG Canada, a branch of the global network of firms providing audit, tax, and advisory services, made a significant move by adding Bitcoin to its corporate balance sheet. This event took place on February 7, 2022. The firm acquired an undisclosed amount of bitcoin through Gemini Trust Company’s execution and custody services.
 

The decision to add crypto assets to its balance sheet was part of KPMG Canada’s commitment to emerging technologies and asset classes. It also included carbon offsets to align with its environmental, social, and governance (ESG) commitments. By doing so, KPMG Canada became one of the high-profile mainstream firms to invest in cryptocurrencies, reflecting a bullish stance on the future of these digital assets.
 

This strategic move allowed KPMG Canada to not only diversify its treasury but also positioned the firm to share its journey and experiences with clients navigating the cryptoasset world. It underscored the firm’s belief in the staying power of cryptoassets and its willingness to explore innovative investment opportunities. The integration of cryptocurrencies into KPMG Canada’s balance sheet marked a notable moment in the adoption of digital assets by major companies.