BIGG has acquired an additional 60.7 bitcoins (BTC).
This brings his total cash to 300 BTC.
The company’s subsidiary, Netcoins, continues to see increased demand for trading
On February 22, BIGG Digital Assets Inc. announced the acquisition of 60.7 bitcoins (BTC) for the operational floating funds of its subsidiary. With this recent addition, BIGG now has a total of 300 BTC in its treasury.
The company’s efforts have not gone unnoticed. Indeed, his previous purchases of 40 BTC on December 8, 2020 and 24.3 BTC on January 29, 2021 show his motivation to build up Bitcoin cash.
The move comes shortly after the flagship crypto surpassed the $ 56,000 mark, setting a new high in the past two months. Most recently, MicroStrategy raised $ 1.05 billion in a debt offer to increase its holdings of BTC. On the other hand, more and more investors want a piece of the pie, as cryptocurrency continues to represent a lucrative future for holders.
The company acquired its BTC for around $ 44,970 per coin, bringing the value of bitcoin cash to around C $ 21.5 million, equivalent to US $ 17.1 million. In the long term, BIGG hopes to incorporate the operational float of Netcoins into its long-term cash holdings.
The aim of BIGG is to provide a safe and regulated environment for a better future of cryptocurrency for all investors. The company prides itself on being an owner, operator and investor in crypto-related businesses, which means well-regulated avenues.
Redirect free cash flow to BTC holdings
Netcoins is the subsidiary of BIGG which was created to make it easier and more secure for Canadian crypto enthusiasts to buy and sell their digital goods. Launched in 2014, Netcoins started out by providing customers around the world with virtual BTC ATM solutions .
BIGG intends to expand its stake in BTC, as the company announced on February 16, 2021. The company plans to avoid free cash flow from trading operations by purchasing more BTC .
BIGG CEO Mark Binns has shared his beliefs about the ultimate value of bitcoin, suggesting it has great potential for the future.
The booming volume of transactions
Binns did not fail to mention the growing volume of transactions recorded by its subsidiary Netcoins. That’s why she decided to increase her cash in BTC. In addition, it has updated its systems as users increase their trading activity on the platform.
In late January, Netcoins had recorded an increase of 2.4 times the volume of transactions, valuing at $ 81 million (CAD). According to its president Mitchell Demeter, there was an increase of 1900% in January compared to last year.
Mitchell Demeter added that the company has the infrastructure to ensure continued demand. She hopes future plans will materialize and anticipates continued user growth. Ms. Demeter also hopes to deliver new products to the company’s customers.