Mormon Salt Lake Temple Adds Bitcoin to Balance Sheet

Salt Lake City, UT – The Church of Jesus Christ of Latter-Day Saints on Temple Street in Salt Lake City, Utah has allocated a portion of it’s $100 billion balance to purchase Bitcoin. The temple is currently undergoing renovations to increase capacity and renovations to improve the grounds. The Salt Lake Temple receives anywhere from 3 to 5 million visitors a year but admission is free. In a press release President Russell M. Nelson stated, “As we undergo renovations to the temple it is critical that the Mormon Church preserves its purchasing power. We have seen the price of goods necessary to maintain the integrity of our place of worship explode in the past year.” Nelson continued, “Allocating Bitcoin to our balance sheet is an attempt to protect us from inflation. Much like Joseph Smith finding the Golden Plates, Bitcoin has become a godsend for the Mormon Church.” Russell declined to disclose exactly what percentage of the church’s $100 billion balance was used to purchase Bitcoin, but stated that it was between 3-7% of their cash reserve. “We hope other LDS (Latter-Day Saints) congregations follow our move and allocate Bitcoin to their balance sheet,” said Russell, “Just as the Angel Moroni led Joseph Smith to the Mormon doctrine, we will lead our brothers to Bitcoin.”