Reliance Global Group Buys Bitcoin for Corporate Treasury
The insurance brokerage firm joins a growing list of public companies adding the cryptocurrency to their balance sheets as a strategic asset.
Reliance Global Group (NASDAQ: RELI), a company specializing in insurance and financial services technology, has announced its first strategic purchase of Bitcoin (BTC) as part of an expanding digital asset treasury strategy. The move positions Reliance alongside a growing number of publicly traded companies, such as MicroStrategy and Tesla, that are now holding the cryptocurrency as a reserve asset.
In a , the company stated the Bitcoin acquisition is the largest component of its Digital Asset Treasury (DAT) initiative to date, building upon earlier investments in Ethereum (ETH) and Cardano (ADA). This diversification into digital assets reflects a broader trend of corporate adoption, with now holding Bitcoin on their balance sheets.
Ezra Beyman, Chairman and CEO of Reliance Global Group, emphasized that the decision was driven by a long-term value strategy rather than short-term speculation. "Our earlier purchases of Ethereum and Cardano laid the groundwork for Reliance’s digital asset treasury strategy, and today’s purchase of Bitcoin represents the next step in building a diversified portfolio of blockchain leaders," Beyman stated. He highlighted Bitcoin's fixed supply, role as a potential hedge against inflation, and its growing institutional adoption as key factors in the decision.
The company’s strategy treats Bitcoin as a foundational store of value, citing its deep liquidity and robust network security. "Bitcoin anchors our portfolio with the qualities of a globally recognized store of value," Beyman added, noting the move aligns with Reliance's history of embracing technological innovation.
Reliance stressed that its digital asset initiative is guided by a Crypto Advisory Board to ensure strong governance, custody, and compliance. The company's approach underscores a disciplined integration of digital assets into its broader financial vision, aiming to deliver sustainable growth and long-term shareholder value. This strategic purchase signals a forward-looking approach for the Nasdaq-listed firm, as it navigates the evolving landscape where in the global financial system.