NexTech AR Solutions, a firm that provides augmented reality for e-commerce, advertising, and virtual events, will be investing in Bitcoin. The firm has recently announced that they are planning to invest $2 million in Bitcoin and the investment might increase in 2021. Evan Gappelberg, CEO of NexTech, has said: “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.” NexTech Believes Bitcoin as a Long-Term Store of Value While talking about their plans to invest in Bitcoin, Gappelberg has mentioned that they believe Bitcoin to be a long-term store of value. According to NexTech, Bitcoin is a completely amazing and attractive investment asset as compared to others. Bitcoin is having a huge potential in long-term appreciation as compared to holding cash for the long-term. A lot of people have compared Bitcoin as a store of value, similar to Gold. NexTech believes Bitcoin to be a digital version of Gold as it provides the same kind of security as that of Gold. Currently, the market capitalization of Bitcoin is $500 billion which is far less than that of Gold, which is at $10 trillion. However, with the widespread adoption of the largest cryptocurrency, it might surpass Gold in the next several years. Mainstream Adoption of Bitcoin NexTech is not the only firm that is planning on investing in Bitcoin as different financial institutions and other institutional investors have started adopting Bitcoin. This indicates the mainstream adoption of Bitcoin across different sectors. This is another reason why people are showing huge faith in Bitcoin than any other digital asset. The current bull rally of Bitcoin is showing that it might reach the $36,000 mark and set another all-time high. The firm now believes that this is the best time to invest in Bitcoin when this widespread adoption is going around.
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