BIGG Digital Assets Inc. (CSE: BIGG; OTCQB: BBKCF; WKN: A2PS9W), which is the owner of Netcoins (Netcoins.ca), the online digital currency brokerage that makes it convenient for Canadians to purchase, sell, and learn about cryptos, and the owner of Blockchain Intelligence Group (BIG), a developer of blockchain tech search, risk-scoring and data analytics solutions, have revealed their plans to acquire additional Bitcoin (BTC) using “free cash flows from operations.”
BIGG’s operating businesses, Netcoins and Blockchain Intelligence Group, have reported a considerable increase in product demand during the last few months. Because of these developments, BIGG claims that it has “achieved positive cash flow from its monthly operations.”
BIGG says that it has adopted the “strategic initiative” of using its “free cash flows” to acquire more BTC in order to supplement its current digital currency holdings. Beginning this month, at management’s “discretion” and “as operations permit,” BIGG will aim to “reinvest its free cash flows” in order to acquire additional Bitcoin at the going market rate. This project is an indication or confirmation of the firm’s “strong belief” in the “future” of Bitcoin, its store of value capability and its “future valuation potential.”
BIGG intends to keep making additional investment into both of its businesses. The company claims that it has a robust treasury, having acquired more than $20 million through equity issuances since November of last year.
BIGG CEO, Mark Binns, stated:
“BIGG is a compliance-first crypto company that believes Bitcoin offers the best store of value for its free cash flows. This has led us to adopt an initiative of reinvestment into the underlying asset of our industry. Of late, we are seeing a surge in the number of corporations buying Bitcoin to hold as a treasury reserve asset.”
Binns added:
“We have held Bitcoin on our balance sheet since 2017, and foresee the next evolution being the investment of fiat profits into crypto. BIGG aims to be at the forefront of this movement. Profits from Netcoins’ trading and Blockchain Intelligence Group’s software sales earned in fiat will be converted into and held in Bitcoin, until such time as required by operational demands. The decision to roll forward our profits into Bitcoin, where we anticipate returns to outpace fiat values, is easy and highly strategic.”
