VANCOUVER – NexTech AR Solutions ((OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), a provider of virtual and augmented reality experience technologies and services today announced that it has increased its Bitcoin ownership to approximately 130.187 Bitcoins at an aggregate cost of $4million USD, and may add more in 2021.
NexTech CEO Evan Gappelberg comments “Our continued investment in Bitcoin in the past week is part of our new capital diversification and allocation strategy announced on December 29th, with the intent to maximize long-term value for our shareholders. Our initial purchase of $2million was completed last week and with this follow-on $2million buy, our treasury purchase of Bitcoin now sits at $4million. This doubling down reflects our strong belief that Bitcoin is an excellent 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 seen as the digital version of gold which has a total market capitalization of $10trillion versus Bitcoin’s total market capitalization of just $600billion. He continues “In 2020 our businesses, which are all part of the digital transformation, benefited as COVID19 accelerated the adoption of new technologies such as augmented reality, AI, virtual events, cloud computing, blockchain, and eCommerce. As we enter 2021, I believe that the digital transformation has now created a paradigm shift in capital diversification to ‘digital gold’ or Bitcoin. As more institutional capital allocators adapt to this new paradigm, they will be prodded to diversify their portfolio into Bitcoin which will likely push the value of Bitcoin closer to the value of gold, meaning that over 90% of the upside for Bitcoin is still ahead of us.”
NexTech comments on the NEO Up-listing January 5, 2021:
Evan Gappelberg CEO of NexTech commented, “We are excited to be approved and ready to be listed on the NEO, a senior exchange in Canada, which provides many tangible benefits for our shareholders including, our stock being eligible for margin trading, added liquidity and exposure to new institutional investors which will allow our growth to continue. The listing date is set for the open on Tuesday, January 5, 2021.
He continued, “Our goal as a dual listed company is to be listed on a senior exchange in the US market as well as Canada, which is why we filed on July 2, 2020 to up list in the US to the NASDAQ Capital Markets Group, which we are expecting will happen in the near future.”
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