On the heels of Canadian company Mogo buying bitcoin for treasury reserves, British Columbia-based augmented reality company Nextech AR Solutions has announced the purchase of $ 2 million in bitcoin. Evan Gappelberg, Nextech CEO, says the company may add more in 2021.
Bitcoin (BTC) becomes a mainstay of the treasury reserve for a number of well-known companies as a large number of companies have joined the trending bitcoin treasury wagon. Tuesday, the Vancouver, British Columbia company Nextech AR solutions (OTCQB: NEXCF) Announced Initial Purchase of $ 2 Million in Bitcoin (BTC).
Nextech CEO Evan Gappelberg said more bitcoin may be added to reserves in 2021.
“Our investment in bitcoin is part of our new capital diversification and allocation strategy with the intent to maximize long-term value for our shareholders,” said Gappelberg. This initial investment reflects our belief that bitcoin is a long-term store of value and an attractive investment object with greater potential for long-term appreciation than holding cash, which currently returns 0.06%. Bitcoin is a digital version of gold with a total market cap of $ 10 trillion versus bitcoin’s total market cap of just $ 500 billion. “
The Nextech CEO added:
We think that as part of the digital transformation a paradigm shift to digital gold is underway and as bitcoin is increasingly seen as a store of value, like gold, it will overtake gold.
Nextech specializes in augmented reality (AR) and virtual events for companies and institutions. The company has team members from technology companies such as Oracle, IBM, SAP and Cisco, and last year the company launched its SaaS platform for web AR in e-commerce. The purchase of $ 2 million in bitcoin (BTC) follows a whole series of companies that buy BTC for reserves, much of which comes from Canada.
Six days ago, the listed Canadian company Mogo announced using 1.5% of the company’s reserves to buy bitcoin. Nextech’s announcement also mentions the investments Mass mutual, Guggenheim Partners, and Micro strategy as inspiration.
“The company believes that as the widespread adoption of bitcoin continues, the timing is right for this move,” Nextech concludes.
What do you think about Nextech AR Solutions buying $ 2 million worth of bitcoin and considering adding more in 2021? Let us know what you think about this topic in the comments below.
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