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Canadian Publicly-Listed Company Buys $2 Million Worth of Bitcoin with Treasury Funds

Reading Time: 2 minutes 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.

Bitcoin Looks to Gain Traction in Payments

Bitcoin Looks to Gain Traction in Payments PayPal gives the digital currency a green light, but high fees, volatility still present obstacles The price of bitcoin is skyrocketing, driving a rally of momentum trading that s pushed its value higher than it s ever been before. WSJ explains how bitcoin trading works, and why the volatile digital currency is reaching all-time highs. Illustration: Jacob Reynolds/WSJ By Updated Dec. 31, 2020 6:12 pm ET Vegas Auto Gallery, a luxury auto dealership in Las Vegas, has become a playground for wealthy bitcoin investors who want to cash in. The dealership recently sold two high-end sports cars a 2017 Pagani Huayra Roadster and a 2019 Bugatti Chiron to a customer who paid more than $6 million in bitcoin, according to owner Nick Dossa, who says about 3% to 5% of the dealership’s revenue comes from bitcoin transactions.

Bitcoin s Rally Has Already Outlasted 2017 s Epic Run

Dec. 24, 2020 5:30 am ET approached $20,000 in 2017 and finally topped the mark in 2020. What drove the rallies, and what happened in the days following the peaks, show how much the market has changed in three years. The digital currency, which has more than tripled in price this year, hit its first record of the year 24 days ago and has continued climbing, trading as high as $24,273 on Sunday. On Wednesday, it closed at $23,299. In previous rallies, such gains have quickly reversed course. Bitcoin bulls say the money fueling this year’s rally is coming from more reliable sources than past rallies. Since September, big new investors have collectively bought about half a million bitcoins, worth about $11.5 billion, according to analytics firm Chainalysis, which tracked the holdings of investors with at least 1,000 bitcoins in wallets that are less than a year old.

2020 Pitted Bitcoin Against The Great Reset

2020 Pitted Bitcoin Against The Great Reset
bitcoinmagazine.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bitcoinmagazine.com Daily Mail and Mail on Sunday newspapers.

The asset manager arms race has only just begun

The asset manager arms race has only just begun
businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.

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