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Corporate Crypto Reserve Status: Software Firm Snappa Swaps 40% Cash Reserves for Bitcoin

On Monday, Canadian graphics software company, Snappa, revealed that it was holding bitcoin as a reserve asset. Snappa follows the firms Microstrategy and the Canadian restaurant chain Tahini’s by deciding to convert cash reserves into the scarce crypto asset. The graphics software firm Snappa based in Ottawa has joined the trend of companies converting cash reserves into bitcoin (BTC). The company revealed its decision on Monday, August 24, when the company’s cofounder, Christopher Gimmer, wrote a blog post about the move. Additionally, Gimmer also spoke with the journalist, Zack Voell, in a private chat and he detailed that Snappa allocated…

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