NexTech AR Solutions plans to make an initial investment of $2million in Bitcoin, may add more in 2021

NexTech AR Solutions Corp. (OTCQB:NEXCF) (CSE:TAR) (FRA:N29), a leading provider of virtual and augmented reality (AR) experience technologies and services for eCommerce, education, conferences and events has announced that it plans to make an initial investment of $2million in Bitcoin and may add more in 2021. In a statement, NexTech CEO, Evan Gappelberg commented: “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.” READ: NexTech AR introduces Genie in a Bottle hologram marketing program for TruLyfe supplements He continued: “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%. Bitcoin is a digital version of gold which has a total market capitalization of $10trillion versus Bitcoin’s total market capitalization of only $500billion. "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.” Nextech noted that in 2020 there has been a new and accelerating widespread adoption of Bitcoin by mainstream financial institutions such as Guggenheim Partners ($530million), Mass Mutual ($100million), Square, Inc. ($50million) and a $1billion investment by MicroStrategy,  The company said it feels that as the widespread adoption of Bitcoin continues, the timing is right for this move. Contact the author at jon.hopkins@proactiveinvestors.com