DMG accumulating additional BTC for its treasury

DMG accumulating additional BTC for its treasury
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VANCOUVER – DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTCQB US) (FRANKFURT:6AX) a vertically integrated blockchain and cryptocurrency technology company, today announces that its Board of Directors has approved, along with its self-mining, to incorporate a Bitcoin accumulation strategy to significantly increase the company’s Bitcoin treasury holdings. After watching for buying opportunities in the market over the last few days and weeks, DMG has started to implement this plan by executing Bitcoin purchases in the amount of roughly 220 BTC since Monday afternoon through customary cryptocurrency exchanges and direct over-the-counter trades. DMG intends to periodically purchase BTC, based on market conditions, trends and corporate opportunities.

“Buying Bitcoin helps to efficiently diversify DMG’s monetary holdings away from cash, and over time we intend to make BTC our treasury currency of choice,” said DMG’s COO, Sheldon Bennett. “We are well connected in this industry and therefore know that many more companies will shortly begin to add Bitcoin to their balance sheets as a hedge against the ongoing dilution and inflation. We believe this will contribute to an even stronger Bitcoin price in the coming weeks and months, from which DMG is positioned to significantly benefit.”

Moving forward, DMG will continue to implement its two-fold business strategy: to grow the corporate blockchain businesses in all of its three divisions (including but not limited to Bitcoin mining and Bitcoin pool management), and to hold newly-mined Bitcoin rewards and acquire additional Bitcoin as a treasury reserve asset, when possible.

“Just as an individual or corporate investor might hold large cash positions, so they might face significant risk of loss of value due to inflation alone. However, that risk doesn’t exist with Bitcoin, which is a deflationary asset by default, with an ever-increasing demand for this superior cryptocurrency. This demand is mainly driven by rapidly growing institutional adoption and an increasingly large demand by retail investors. Coupled with a drastically declining supply of new coins, ultimately, we expect continuously rising Bitcoin prices, which is exactly what we’ve been witnessing in the last few months. We believe Bitcoin has and will continue to have greater value than traditional currencies such as the US dollar,” added DMG’s CEO, Daniel Reitzik.

DMG is a vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s businesses are segmented into three main divisions: data centre operations, data analytics and forensics and developing enterprise blockchains. DMG’s data centre operations focus on earning revenues from block rewards and transaction fees by mining primarily bitcoin as well as providing hosting services for industrial mining clients. DMG’s data analytics and forensic services provide technical expertise software products such as Blockseer Pool, Mine Manager and Walletscore, as well as working with auditors, law firms, and law enforcement organizations. DMG’s permissioned blockchain technology is focused on developing enterprise software for the supply chain management of controlled products. DMG’s strategy is to become the domain experts across the business verticals it focuses on. DMG’s management team includes seasoned crypto experts, forensic & financial professionals and blockchain developers with deep relationships throughout the industry.

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