NexTech Announces $2 Million investment in Bitcoin

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  • NexTech to invest $2 Million in Bitcoin (BTC). The investment may increase by 2021 
  • NexTech claims Bitcoin a long term value store
  • The firm refers to Bitcoin as Digital Gold and believes the crypto may surpass Gold market cap in near time

NexTech AR Solutions, an internet-based augmented reality for eCommerce, lifestyle, education and virtual events has announced to invest in Bitcoin (BTC) on December 29, 2020. According to the firm’s official statement, they are planning to invest $2 Million in Bitcoin, and the investment amount may increase by the coming year. 

In September 2020, the total market cap of the company was evaluated to be $16.39 million (US$12.79 million) in cash, investing approximately 15.6% of the available cash. 

Bitcoin: A long term value store

The CEO of NexTech, Evan Gappelberg, remarked that the firm’s investment in Bitcoin (BTC) is a way to diversify their new capital and assign a plan of action to build long-term value for the shareholders. Gappelberg has become the prime CEO to utilize company treasury funds for buying Bitcoin.

The firm finds Bitcoin (BTC) a downright perplexing and alluring investment asset compared to other cryptocurrencies. Bitcoin is a huge potential and fruitful in holding the amounts for a longer time-lapse (currently yielding 0.06%). Gappelberg, in one of his interviews, revealed to find Bitcoin a good investment platform.

Bitcoin: the Digital Gold

The firm has referenced Bitcoin as ‘Digital Gold’ because it offers similar security like Gold. Although Gold has a total market evaluation of $10 Trillion in the current scenario, and Bitcoin’s market cap is $500 Billion, NexTech believes Bitcoin may surpass Gold in coming years as crypto adoption is on a significant surge. 

Bitcoin has gradually become the most preferred investment platform in every sector worldwide. Not only NexTech but many different financial investment firms and institutional investors have started to utilize the crypto. Bitcoin has gathered an enormous faith of the masses than other assets. The BTC market is bullish and may depict an all-time high of $50000 target and then $100000 as main target after the fifth wave. The firm claims the current time to be the best time for investment in Bitcoin (BTC).

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