Fun

Augmented Reality Firm Nextech AR Joins the Bitcoin Treasuries Bandwagon, Buys $2 Million BTC

News Feed - 2020-12-30 03:12:32

Augmented Reality Firm Nextech AR Joins the Bitcoin Treasuries Bandwagon, Buys $2 Million BTC


On the heels of the Canadian company Mogo purchasing bitcoin for treasury reserves, the British Columbia-based augmented reality firm Nextech AR Solutions has announced the purchase of $2 million in bitcoin. Nextech’s chief executive officer Evan Gappelberg says the firm may add more in 2021.


Bitcoin (BTC) is becoming a treasury reserve mainstay for a number of well known companies, as a great number of businesses have joined the trending bitcoin treasuries bandwagon. On Tuesday, the Vancouver, British Columbia company Nextech AR Solutions (OTCQB: NEXCF) announced the initial purchase of $2 million in bitcoin (BTC).


Nextech’s CEO Evan Gappelberg detailed there may be more bitcoin added to the 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,” Gappelberg said. This initial investment reflects our belief that bitcoin is a long-term store of value and an attractive investment asset with more long-term appreciation potential than holding cash, which is currently yielding 0.06%. Bitcoin is a digital version of gold which has a total market capitalization of $10 trillion versus bitcoin’s total market capitalization of only $500 billion.”


Nextech’s CEO added: We think that as part of the digital transformation a paradigm shift to digital gold is underway and as bitcoin is seen more and more as a store of value, just like gold, it will catch up to gold.


Nextech specializes in augmented reality (AR) and virtual events for businesses and institutions. The firm has team members from technology companies like 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 slew of companies purchasing BTC for reserves, and a great deal of them stem from Canada.


Six days ago, the publicly listed Canadian company Mogo announced leveraging 1.5% of the company’s reserve assets to purchase bitcoin. Nextech’s announcement also mentions the investments Mass Mutual, Guggenheim Partners, and Microstrategy as inspiration.


“The company feels 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 in bitcoin and considering adding more in 2021? Let us know what you think about this subject in the comments section below. Financial Guru Dave Ramsey Doubts Bitcoin Can Be Cashed Out — Advises BTC Investor to Sell Now FINANCE | 2 days ago Bitcoin Derivatives Action Swells: A Few June Futures Trade for $30K, Deribit Adds $140K Options Strike FINANCE | 2 days ago Tags in this story 2 Million, AR, Augmented Reality, Bitcoin, bitcoin reserves, bitcoin treasuries, BTC, BTC Reserves, BTC Treasuries, Canada, Evan Gappelberg, Guggenheim Partners, mass mutual, microstrategy, Nextech, Nextech AR Solutions, Nextech Solutions


Image Credits: Shutterstock, Pixabay, Wiki Commons Spot-markets for Bitcoin, Bitcoin Cash, Ripple, Litecoin and more. Start your trading here. Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Crypto Allows Ukraine to ‘Operate Internationally,’ Official Says
Crypto Allows Ukraine to ‘Operate Internationally,’ Official Says Amid ongoing hostilities with advancing Russian forces, Ukraine has been increasingly relying on cryptocurrenc
NFTs and blockchain bridge Ethiopia’s past and present in new art exhibition
Vittoria Benzine10 hours agoNFTs and blockchain bridge Ethiopia’s past and present in new art exhibition“Ethiopia at the Crossroads” is getting a special blockchain boost for its final stint at the Toledo Museum of
Tom Mitchelhill5 hours agoApple’s headset could redefine what being in the metaverse meansKPMG"s Head of Metaverse Alyse Sue believes the tech included in Apple’s mixed reality headset could shift the way users inter
‘Open-source’ CBDCs aren’t going to protect you from government
Nicholas Anthony1 hour ago‘Open-source’ CBDCs aren’t going to protect you from governmentOpinion: From Brazil to Norway, there is plenty of evidence that governments are planning to use CBDCs to abuse their people.
Analyst Says XRP’s 11-Year SuperCycle Is Coming To An End, Why A Surge To $3.4 Is Imminent
Este artículo también está disponible en español. A crypto analyst has noted that XRPhas finally broken out of its long consolidation phase, signaling the onset of a majo
Mr․ Satoshi Is The New Premium Bitcoin Apparel Store You Do Not Want to Miss
Mr․ Satoshi Is The New Premium Bitcoin Apparel Store You Do Not Want to Miss sponsored A new player has entered the Bitcoin apparel market and is quickly making a name for themse
Tristan Greene4 hours agoKresus launches curated marketplace for Polygon projectsThe company also announced the launch of Kresus Connect, a Web3 portal for SuperApp.471 Total views5 Total sharesListen to article 0:00News
Celestia (TIA) Set For Major Breakout? Top OTC Exec Warns Of Supply Shock
Este artículo también está disponible en español. In an analysis shared on X, Taran Sabharwal, CEO of Stix—a leading OTC trading platform specializing in liquidity solu
Ethena Labs founder clarifies USDe stability amid high yield worries
Zoltan Vardai6 hours agoEthena Labs founder clarifies USDe stability amid high yield worriesYoung told Cointelegraph that the initial skepticism around USDe’s sustainability is “right” following the pitfalls of the
Crypto Super PAC raises $169M following $10M donation from Jump Crypto
Turner Wright6 hours agoCrypto Super PAC raises $169M following $10M donation from Jump CryptoA Fairshake spokesperson told Cointelegraph that the political action committee would “have the resources to affect races in
CBDC Debate Heats Up: BIS Project Sparks Controversy Among Critics; Lynette Zang Warns of Dangers of CBDCs
CBDC Debate Heats Up: BIS Project Sparks Controversy Among Critics; Lynette Zang Warns of Dangers of CBDCs During the weekend, discussions about central bank digital currencies, or
David Attlee14 hours agoUS Justice Department to double its crypto team, target ransomware crimesThe National Cryptocurrency Enforcement Team, established in 2021, will be merged with the Computer Crime and Intellectual