British Columbia-based Nextech AR is the latest company to onboard the Bitcoin rally ride by investing $2M in Bitcoin. With several companies participating as a reserve mainstay, businesses have lately united in the Bitcoin treasury bandwagon. The purchase announcement came in on Tuesday, with Nextech’s CEO expressing the excitement of purchasing more BTC in 2021.
Nextech AR is a leading virtual experience platform specializing in augmented reality and virtual events for businesses and institutions. The company strives to be an AR partner for limitless business growth. It facilitates clients to leverage augmented reality in the truest potential in the e-commerce landscape. Its clientele includes technological giants such as Cisco, IBM, Oracle, and many more. Last year, it also announced its SAAS platform for augmented reality in e-commerce.
The Nextech’s Chief, Evan Gappelberg, expressed his plans to amplify more bitcoin to its reserves. He added that the company’s investment in Bitcoin intends to maximize returns for the stakeholders; therefore, it constitutes a part of the latest capital diversification and allocation strategy. Moreover, the company trusts Bitcoin as a long-term storehouse of value against holding cash. Concerning gold, Bitcoin has great potential as the latter stands at $10 trillion versus bitcoin’s total market capitalization of only $500 billion. The cash currently yields 0.06%, which makes it more lucrative for investors to explore other investment opportunities like cryptocurrencies, specifically Bitcoin.
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.
Bitcoin on a rally nearing $30,000
Bitcoin is currently hiking at $28,430 at the time of this publication. However, the increased momentum in the past few days provides an intimation relating to possibilities of Bitcoin crossing over $30,000. If this happens, it will be one of the greatest milestones announcing the fall of 2020, therefore ushering into possibilities of Bitcoin amalgamation with more and more companies. The augmented reality company, Nextech, opines that Bitcoin is on the momentum of gaining wide adoption; therefore, this timing is ideal to look at investment possibilities.
Conclusively, Nextech AR also stated about gaining inspiration from the Bitcoin investments of MassMutual, MicroStrategy, and Guggenheim Partners in its latest announcement.
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