BIGG Digital Assets (BIGG.C) buys even more bitcoin for Netcoins exchange, continues to pop

netcoins
02/09/2021

BIGG Digital Assets (BIGG.C) indicated today that they were going to buy more bitcoin with free cash flows from their Netcoins exchange and other operations, according to a press release.

The price of a single bitcoin is $47,283.22, and marking at 41.4% increase over the past week, which may scare off an individual looking to get into bitcoin. But for a company dealing specifically in the currency, and making money off of each transaction, the popularity that comes with the price makes it worth their while. Especially if the increases keep going at this rate.

“Bigg is a compliance-first crypto company that believes Bitcoin offers the best store of value for its free cash flows. This has led us to adopt an initiative of reinvestment into the underlying asset of our industry. Of late, we are seeing a surge in the number of corporations buying Bitcoin to hold as a treasury reserve asset. We have held Bitcoin on our balance sheet since 2017, and foresee the next evolution being the investment of fiat profits into crypto. Bigg aims to be at the forefront of this movement. Profits from Netcoins’ trading and Blockchain Intelligence Group’s software sales earned in fiat will be converted into and held in Bitcoin, until such time as required by operational demands. The decision to roll forward our profits into Bitcoin, where we anticipate returns to outpace fiat values, is easy and highly strategic,” said Mark Binns, CEO of Bigg Digital Assets.

Bigg Digital believes that the future of cryptocurrency is in a safe, and compliant regulatory environment, and given the amount of criminal behaviour and dangerous lack of oversight involved in the crypto-sphere, they’re probably right. That’s why Bigg invests in products and companies in support of facilitating this potential future. They do this through two subsidiaries: Netcoins, their exchange, and Blockchain Intelligence Group, which basically does forensic auditing for the various blockchains they’re involved with.

Specifically, Netcoins develops brokerage and exchange software to reduce the technological and knowledge-based barriers to entry, making buying and selling cryptocurrency accessible to the mass consumer and investor, while being completely complaint and as safe as they possibly can. Netcoins uses BitRank Verified software at the heart of its platform and engages in crypto-trading through their self-serve crypto brokerage portal, found at Netcoins.app.

Bigg’s latest strategy involves using its free cash flows to buy more Bitcoin to supplement its present coin holdings. The company enjoys a robust treasury, having raised over $20 million via equity issuances since November 2020.

Source: stockwatch.com

Bigg Digital’s price trajectory tends to follow that of Bitcoin’s, with similar peaks and valleys. One peculiar point that stands out is that if you had bought into Bigg Digital in the middle of December, hoping to cash in on Bitcoin’s New Year’s trajectory, you would have doubled your money by now. At present, they’re at $0.87 compared to $0.40 in mid-December.

—Joseph Morton

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