Canadian Company Buys $ 2m Bitcoin
NexTech AR Solutions, which provides virtual reality (AR) services and has a market capitalization of $ 480 million, announced a $ 2 million Bitcoin Investment. The company said this was a start-up and BTC investments could continue in 2021.
Nextech AR Solutions, a provider of augmented reality experiences for e-commerce, education, events, announced today that it is investing in Bitcoin in a press release. Nextech, which has a market capitalization of $ 480 million, announced the amount of this investment as $ 2 million, and also announced that it could continue in 2021.
Bitcoin investment is more profitable than holding cash in the long run
Nextech CEO Evan Gappelberg made the remarks about the Bitcoin Investment. Gappelberg said the BTC move by the company was part of its capital diversification strategy. Noting that they have a return of 0.06% on their cash, the CEO said that Bitcoin Investment has a much more lucrative potential in the long term than cash. Gappelberg, who stressed that bitcoin is a digital version of gold, stated that they want to participate in this exchange as part of the digital transformation.
“We think bitcoin can capture gold as it is increasingly seen as a store of value, just like gold.”
“This is the right time to invest”
Bitcoin has expanded both its awareness and its position as a store of value this year, while the institutional investor’s influence has been considerable. The interest of corporate companies served as a catalyst for the rise of BTC, and in the last days of the year, the price of Bitcoin managed to position its new record above 28 thousand dollars.
In 2020, many companies led the corporate flow and made a voice with BTC investments. MicroStrategy invested $ 1 billion, Guggenheim Partners $ 530 million, Mass Mutual $ 100 million and Square $ 50 million in Bitcoin. According to a statement from Nextech, the company decided to take such a step, believing that while the widespread adoption of Bitcoin by institutions is ongoing, it is the right time to invest.