NexTech to Buy $2 Million Bitcoin With Treasury

One of the foremost providers of virtual reality experiences, NexTech AR Solutions has made an announcement today, saying it made its initial investment in Bitcoin worth $2 Million. The company might also add more Bitcoin to its reserve in the coming years, following the statement.

Evan Gappelberg, the CEO of NexTech, which also involves augmented reality (AR) experience technologies and services for eCommerce, education, conferences, and events, commented that the firms’ interest in Bitcoin is important for its new capital expansion and allotment procedure with the aim to amplify long haul incentive for its investors.

He further noted that this underlying speculation mirrors their conviction that Bitcoin is a long term store of significant value and an alluring venture resource with more long term potential than holding money, which is right now yielding 0.06%.

Bitcoin is a digital adaptation of gold which has an all-out market capitalization of $10trillion versus Bitcoin’s absolute market capitalization of just $500 billion. They imagine that as a feature of the digital change, a possible swap in outlook to digital gold is in progress and as Bitcoin is considered to be more of a significant store of value – just as gold, it will make up for lost time on gold.

NexTech AR’s 2020 in View

As the novel Corona Virus ravaged the world and the world’s business life gets affected, some companies are making great strides.

NexTech made some major achievements in the year especially in December 2020.

It launched out and added seven additional strategic channel partnerships bringing the total for the Asia Pacific region to eight.

The company announced the creation of its new Artificial Intelligence (AI) division. 

It also announced that it has achieved a record-breaking 315% increase in Black Friday sales year-over-year across its AR eCommerce platform. In addition, CEO Evan Gappelberg buys 250,000 shares, his fifth purchase in 2020 as he continues to increase his position.