Canadian Crypto Company Increases Its Bitcoin Treasury Holdings to $3.6 Million

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BIGG Digital Assets, a Canadian crypto company, revealed this week that it bought 40 additional bitcoins for long-term treasury holding. The purchase increased BIGG’s reserves to 189.5 bitcoins valued at US$3.63 million in total.

The Canadian Securities Exchange-listed firm spent about CAD$1 million ($775,000) on its latest buy. The company said it “believes strongly in the future of bitcoin, its store of value capability, and its future valuation potential.”

Mark Binns, chief executive officer of BIGG, noted that his company, owners of crypto brokerage Netcoins and data analytics firm Blockchain Intelligence Group, started accumulating bitcoin (BTC) as far back as 2015.

“Bitcoin has appreciated substantially as an asset class over 1, 2, 5 and 10 years horizons, and we believe the potential for impactful price appreciation is stronger today than ever,” he said, in an email statement to news.Bitcoin.com.

“Institutional involvement and buying, and mainstream adoption, will continue to drive the price of bitcoin as supply remains capped. We believe our bitcoin holdings can act as self financing, over time,” he added.

Institutional adoption has helped the price of bitcoin to scale past all-time highs,…

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