VANCOUVER, British Columbia, Jan. 29, 2021 (GLOBE NEWSWIRE) — BIGG Digital Assets Inc. (“BIGG” or the “Company”) (CSE: BIGG; OTCQB: BBKCF; WKN: A2PS9W), owner of Netcoins (Netcoins.ca) (â€œNetcoinsâ€�), the online cryptocurrency brokerage that makes it easy for Canadians to buy, sell, and understand cryptocurrency, and owner of Blockchain Intelligence Group (â€œBIGâ€�), a leading developer of Blockchain technology search, risk-scoring and data analytics solutions, is pleased to announce that it has acquired 24.3 additional Bitcoins which will be used for Netcoins operational float, and also become part of BIGGâ€™s long term treasury holdings. BIGG purchased the Bitcoins at a cost of CAD $41,164 per BTC, for a total investment of CAD $1,000,000.
This purchase, added to BIGGâ€™s existing Bitcoin holdings, brings the treasury to 239.3 Bitcoin, valued at CAD ~$10.3 million (USD ~$8.0 million) as of 3pm PST January 28, 2021.
BIGG intends to further add to its Bitcoin holdings by investing up to CAD $5 million over the next 5 weeks, dollar cost averaging the purchases, to expand the Netcoins operational float to meet increased trading volumes on the platform.
BIGG believes strongly in the future of Bitcoin, its store of value capability, and its future valuation potential.
BIGG CEO, Mark Binns, remarks â€œBIGGâ€™s subsidiary Netcoins continues to experience significant monthly increases in trading volume, and with immediate settlement to customers, we require a larger crypto float to meet daily customer buying demands. To meet this demand, we have expanded our Bitcoin holdings and will continue to do so over the coming weeks. We also believe our Bitcoin holdings can act as a source of self financing and value creation over time, as we continue to expand our core crypto trading and blockchain forensic software businesses.â€�.
On behalf of the Board
About BIGG Digital Assets Inc.
BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment. BIGG invests in products and companies to support this vision. BIGG owns two operating companies: Netcoins (netcoins.ca) and Blockchain Intelligence Group (blockchaingroup.io).
Netcoins develops brokerage and exchange software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins utilizes BitRank VerifiedÂ® software at the heart of its platform and facilitates crypto trading via a self-serve crypto brokerage portal at Netcoins.app.
Blockchain Intelligence Group (BIG) has developed a Blockchain-agnostic search and analytics engine, QLUETM, enabling Law Enforcement, RegTech, Regulators and Government Agencies to visually track, trace and monitor cryptocurrency transactions at a forensic level. Our commercial product, BitRank VerifiedÂ®, offers a â€œrisk scoreâ€� for cryptocurrencies, enabling RegTech, banks, ATMs, exchanges, and retailers to meet traditional regulatory/compliance requirements.
Certain statements in this release are forward-looking statements, which include completion of the search technology software and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as â€œmayâ€�, â€œexpectâ€�, â€œestimateâ€�, â€œanticipateâ€�, â€œintendâ€�, â€œbelieveâ€� and â€œcontinueâ€� or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of BIGG. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because BIGG can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from BIGGâ€™s expectations include, consumer sentiment towards BIGGâ€™s products and Blockchain technology generally, technology failures, competition, and failure of counterparties to perform their contractual obligations.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BIGG disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BIGG undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The CSE does not accept responsibility for the adequacy or accuracy of the content of this Press Release.