NexTech AR Solutions (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), a Canada-based provider of virtual and augmented reality (AR) experience technologies and services for eCommerce, education, conferences and events, announced on Tuesday it plans to make an initial investment of $2million in Bitcoin and may add more in 2021.
Founded in 2018, NexTech AR Solutions Corp has developing a proprietary Augmented Reality (AR) advertising platform that uniquely engages consumers by connecting them to brands and retail locations through a fully immersive AR experience.
“With a focus on our two core technologies, augmented reality and holographic telepresence, NexTech AR offers innovative solutions that can be harnessed across a wide range of industries. Harnessing these technologies allows us to bridge the physical and the digital worlds, pushing the boundaries of branded communication and user experience in a disruptive new way.”
Speaking about the investment, NexTech CEO, Evan Gappelberg stated:
“Our investment in Bitcoin is part of our new capital diversification and allocation strategy with the intent to maximize long-term value for our shareholders. This initial investment reflects our belief that Bitcoin is a 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%.”
Gappelberg further observed that Bitcoin is a digital version of gold which has a total market capitalization of $10 trillion versus Bitcoin’s total market capitalization of only $500 billion. He then added:
“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.”