KPMG in Canada adds Bitcoin and Etherium

KPMG in Canada has completed an allocation of cryptoassets to its corporate treasury, the firm's first direct investment in cryptoassets.

What the heck to they mean in the article by:
"The allocation includes Bitcoin (BTC) and Ethereum (ETH), as well as carbon offsets to maintain a net-zero carbon transaction to deliver on the firm's stated environmental, social and governance (ESG) commitments."

Does that mean this financial firm bought some land with a few trees to assuage themselves of the guilt of the electricity that was consumed to create the crypto?

“Does that mean this financial firm bought some land with a few trees to assuage themselves of the guilt of the electricity that was consumed to create the crypto?”

Worse than that. There are firms who arrange with landowners to place carbon credit easements on their trees. Others then buy credits from them.

If YOU would like to be on a CRYPTO PING LIST, please pm me.

The Crypto Ping List covers the following:

Bitcoin
Ethereum
Other coins built on the Ethereum blockchain mining
etc.

Thanks! For it - or ag'in it, it'll be a wild ride.

I must admit I still don’t understand Bitcoin and other crypto currencies.

I can understand that the value of these assets is based on supply and demand. The supply of Bitcoin is limited to a finite amount of Bitcoin which miners can produce. And then the demand side has ballooned the asset value of Bitcoin over the years, as investors, and ordinary people without big bucks, buy Bitcoin.

But is there any intrinsic value to Bitcoin, beyond the belief of buyers and sellers that this intangible asset has value because they all believe it has value?

For example, if you buy land, or a house, or commercial property, you are buying an asset with some tangible value or uses. If you buy a business, or buy stock in a business, you are investing in an entity which produces a product, or sells goods and services, which provides a certain value to the assets involved in that business.

What is the corresponding tangible value of Bitcoin? What is Bitcoin beyond being a series of blockchain transactions being compiled on the internet? Is there any tangible underlying value to Bitcoin assets?

Or perhaps I just don’t understand why Bitcoin has zoomed up in value to tens of thousands of dollars from close to zero ten years ago? I can understand that based on supply and demand, the value of Bitcoin is there because willing buyers and sellers agree to the sale of Bitcoin at those prices.

But will someone eventually be left holding the bag on Bitcoin assets??

It’s a currency, not an investment. You are buying the ability to transfer value using the blockchain.

Is the currency of any significant state backed by anything other than a collective agreement in its value? Full faith and credit doesn’t hold what it used it.

The fact that it cannot be inflated out of existence is a good thing.

There are a lot of reasons why it has value. If you are worried about holding the bag…the change in your pocket is worth 7% less than it was last year. That is a much bigger bag.

Perhaps they are hedging their asses, oops, I mean assets, in case 1776 happens in 2022, a few hundred miles North of where it happened in 1776.

PRC’s elites (Politically Repressive Canada, that is) are so out of touch with reality, that they don’t see how fired up most ‘severely normal’ Canadians have become. IF the OPS has actually HAD even 20% of their officers resign, AND the CAF has OFFICIALLY sided with the people , against the politicians, PRC could be into revolution and the $CDN could crater.

The accountants are simply hedging their asses, assets.

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