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BIGG Digital Assets Inc. to Reinvest Free Cash Flows From Operations into Bitcoin
BIGG Digital Assets | Mark Binns | Feb 9, 2021
VANCOUVER, February 9, 2021 – BIGG Digital Assets Inc. (“BIGG” or the “Company”)(CSE: BIGG; OTCQB: BBKCF; WKN: A2PS9W), owner of Netcoins (Netcoins.ca) (“Netcoins”), the online cryptocurrency brokerage that makes it easy for Canadians to buy, sell, and understand cryptocurrency, and owner of Blockchain Intelligence Group (“BIG”), a leading developer of Blockchain technology search, risk-scoring and data analytics solutions, announces its intention to acquire additional Bitcoin with free cash flows from operations.
BIGG’s operating businesses, Netcoins and Blockchain Intelligence Group, have experienced significant increases in product demand over the past several months. As a result, BIGG has now achieved positive cash flow from its monthly operations.
BIGG has adopted the strategic initiative of utilizing its free cash flows to acquire additional Bitcoin to supplement its current coin holdings. Commencing this month, at management’s discretion and as operations permit, BIGG will seek to reinvest its free cash flows to acquire Bitcoin at the prevailing market rate. This initiative is a clear indication of our continued strong belief in the future of Bitcoin, its store of value capability and its future valuation potential.
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BIGG plans to continue aggressive investment into both of its businesses. The Company has a robust treasury, having raised over $20 million via equity issuances since November 2020.
BIGG CEO, Mark Binns, remarks “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.”
View the original release --> here
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