BIGG Digital Assets Inc., owner of Netcoins, the online cryptocurrency brokerage that makes it easy for Canadians to buy, sell, and understand cryptocurrency, and owner of Blockchain Intelligence Group, a leading developer of blockchain technology search, risk-scoring and data analytics solutions, announces that its treasury holds over 450 Bitcoins, with a market value of CAD ~$35 million as of October 19, 2021.
BIGG has long believed that Bitcoin’s store of value, and appreciation, is an intelligent way to manage our treasury alongside fiat holdings. We intend to continue to accumulate Bitcoin over time, as we believe a target price of $100k USD per coin is achievable given the current lack of supply available in the market, strong on-chain metrics, and an increasingly widespread interest in Bitcoin. With Bitcoin reaching its previous all-time high of $64k USD, we believe the next major milestone is $100k USD.
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BIGG subsidiary Netcoins also reports that customer deposits, of crypto and fiat, on the Netcoins trading platform now exceeds CAD $85 million up from CAD ~$45 million in March 2021.
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Mark Binns, BIGG CEO, remarked, “As we continue to build our core businesses, Blockchain Intelligence Group and Netcoins, we are pleased to also manage our treasury with a mix of Bitcoin and fiat. Our Bitcoin holdings continue to perform very well, and we expect to see significant upside in the value of Bitcoin over the coming months and quarters. We are also equally pleased to see the growth in assets under custody at Netcoins – demonstrating that our customers are putting more of their hard earned money to work trading crypto at Netcoins than ever before.”
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