NexTech sold its 130.187 Bitcoins and booked $200K profit
NexTech AR Solutions, a provider of virtual and augmented reality solutions, said it has sold its BTC 130.187 and booked approximately a USD 200,000 profit.
The firm said it decided to sell BTC, held only for a few weeks, due to wrongful and largely debunked reports about double-spent BTC yesterday.
“Our investment in Bitcoin in the past was part of our capital diversification strategy with the intent to maximize long-term value for our shareholders. This sale reflects our awareness that something potentially has changed with Bitcoin which is seen as the digital version of gold. The news that has emerged is that a critical flaw called a ‘double spend’ may have occurred, which if true allows someone to spend the same Bitcoin twice, undermining faith in the system. If the system is built on scarcity and faith in the system, then a ‘double spend’ would eliminate both -essentially destroying the store of value it was meant to be. In light of this potential outcome, I have decided to move to cash as this story is still unfolding.” NexTech CEO, Evan Gappelberg, said.
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 $50million, and the $1billion investment by MicroStrategy.
- Buy The Dip – MicroStrategy Bought 314 Bitcoin For $10 Million
- Square buys 4,709 bitcoins, worth approximately $50 million Square Buys 4,709 Bitcoins, Worth Approximately $50 Million