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by
Aisshwarya Tiwari
on
December 30, 2020 Bitcoin
Canadian augmented reality (AR) firm joins in the bitcoin frenzy.
Canadian AR Firm Buys Bitcoin
In a press release issued on December 29, Canadian AR company NexTech AR announced its plans to make an investment worth $2 million in bitcoin (BTC) with plans to “add more in 2021.”
Per the source, the company will use its treasury funds to purchase bitcoin worth $2 million for “capital diversification.”
For the uninitiated, NexTech AR is a Vancouver-based AR firm that, as of September 30, had $12.79 million cash on hand. The investment of $2 million in BTC makes it an investment worth approximately 15.6% of the company’s total cash holdings.