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

FTX founder SBF asks for a 6.5-year sentence, tells prison guards to invest in Solana
Prashant Jha45 minutes agoFTX founder SBF asks for a 6.5-year sentence, tells prison guards to invest in SolanaA report published in the NYT claimed SBF is giving investment advice to prison guards, reportedly asking the
Pump.fun flips Ethereum in 24-hour revenue generation — DefiLlama
Alex O’Donnell7 hours agoPump.fun flips Ethereum in 24-hour revenue generation — DefiLlamaThe Solana memecoin creation tool’s cumulative fee revenues are approaching $75 million, according to DefiLlama.8100 Total v
Multichain Bitcoin․com Wallet Now Supports Avalanche (AVAX)
Multichain Bitcoin․com Wallet Now Supports Avalanche (AVAX) press release Bitcoin.comhas added support for the smart contract platform Avalanche to its self-custodial web3 wallet.
US senator withdraws support for Elizabeth Warren’s anti-crypto bill
Tom Mitchelhill4 hours agoUS senator withdraws support for Elizabeth Warren’s anti-crypto billRepublican Senator Roger Marshall has withdrawn as a cosponsor for an anti-crypto bill he co-created with Senator Elizabeth
Brian Nibley9 hours agoShould you just wait for October to trade Bitcoin?The months of August and September haven’t been the best for the Bitcoin price historically, and with volatility at historic lows, traders may wa
White House Says Biden Has ‘Confidence’ in Fed Chair Powell While Fedwatch Tool Predicts a 25bps Hike This Week
White House Says Biden Has "Confidence" in Fed Chair Powell While Fedwatch Tool Predicts a 25bps Hike This Week With the Federal Open Market Committee convening on Wednesday and th
Creditors of Collapsed South African Crypto Firm Vote to Accept Offer to Resuscitate the Company
Creditors of Collapsed South African Crypto Firm Vote to Accept Offer to Resuscitate the Company Creditors of a South African crypto trading firm, Africrypt, have agreed to a propo
Riot Platforms boosted BTC output by 19% in 2023, mines 6,626 Bitcoin
Ciaran Lyons7 hours agoRiot Platforms boosted BTC output by 19% in 2023, mines 6,626 BitcoinWhile several of Riot Platform’s competitors mined more Bitcoin in 2023, Riot is preparing for 2024’s Bitcoin halving after
Ban on Crypto Mining in Residential Areas Proposed in Russia
Ban on Crypto Mining in Residential Areas Proposed in Russia Advisors to the Kremlin have suggested that home crypto mining should be banned in Russia, or in some of its regions. T
Turner Wright8 hours agoNYDFS calls for public feedback on proposed crypto regulatory guidanceThe proposals included stricter standards on risk assessments for crypto firms as well as a framework for designating token pr
Independent Russian News Site Meduza Raises Over $200,000 in Crypto
Independent Russian News Site Meduza Raises Over $200,000 in Crypto Pressure from the Kremlin and sanctions from the West have forced Russian news outlet Meduza to increasingly rel
Former Trump Economic Advisor and Goldman Sachs President Gary Cohn Warns Bitcoin May Fail
Former Trump Economic Advisor and Goldman Sachs President Gary Cohn Warns Bitcoin May Fail A former top economic advisor to President Donald Trump and president