NexTech to buy $2 million worth of bitcoins

NexTech AR Solutions, listed on the Canadian Securities Exchange (CSE), анонсировала the purchase of $2 million in Bitcoin as part of its strategy to diversify and allocate capital.

NexTech emphasised that cryptocurrency investments would continue in 2021. According to chief executive Evan Gappelberg, Bitcoin is an attractive asset with strong long-run growth potential.

“Dollar deposits are currently yielding only 0.06%,” commented NexTech’s CEO.

The head of NexTech is a proponent of the ‘Bitcoin — digital gold’ thesis.

“We think that in the course of the digital transformation there is a paradigm shift. Bitcoin is increasingly viewed as a store of value and it will catch up with gold,” said Gappelberg.

Total market capitalisation of gold stands at $10 trillion, while Bitcoin is around $500 billion. If the figures converge, one BTC would be worth about $500,000.

As reported, on December 21 MicroStrategy also purchased 29,646 BTC, increasing its crypto assets to $1.6 billion.

Analysts at Chainalysis previously calculated that 60% of all Bitcoin in existence is held as digital gold.

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