NexTech AR Solutions (OTCQB: NEXCF) (CSE: NTAR). a Canadian firm that offers augmented reality services, has added $4 million in Bitcoin to its treasury holdings. Last week, NexTech said it planned to make an initial investment of $2million in Bitcoin. It appears that NexTech decided to double this amount during a period of Bitcoin rising in value. The company said it may add even more during the year.
NextTech currently has a market cap of around $400 million. Its main business line is AR in providing technology to clients for eCommerce, advertising, education, training, and video conferencing creating.
Evan Gappelberg, CEO of NexTech said their investment in Bitcoin is part of their new capital diversification and allocation strategy with the intent to maximize long-term value for our shareholders. The company believes that BTC represents better value than cash during a historically low-interest rate environment. Gappelberg said Bitcoin is an “excellent long-term store of value and an attractive investment asset with more long-term appreciation potential.”
Simultaneously, NexTech said it would be listed on the NEO Exchange . The listing date is set for the open on Tuesday, January 5, 2021.
Launched in 2015, NEO Exchange claims close to 13% of all volume traded in Canadian-listed securities. NEO is home to almost 100 unique public listings, including public companies, Exchange Traded Funds (ETFs), Special Purpose Acquisition Companies (SPACs), and Closed-End Funds (CEFs), and NEO-listed securities market data is available to all investors in real-time.
In 2019, NEO launched DealSquare, in collaboration with Silver Maple Ventures, to make private markets more accessible and efficient. Silver Maple Ventures is the parent of of FrontFunder – the leading crowdfunding platform in Canada.