Canada’s Vinergy To Broaden Investments To Bitcoin, Digital Currency, Blockchain

By RTTNews Staff Writer | Published: 2/22/2021 9:25 AM ET

Canada’s Vinergy Cannabis Capital Inc. has become the latest to broaden investment spectrum to include Bitcoin mining, Bitcoin derivatives, digital currencies, digital currency marketplaces and exchanges and blockchain, among others.

The investment company has become the latest in updating and amending its current investment policy to broaden the spectrum of the types of investments it is focused on to include high impact and high growth opportunities in Bitcoin, digital currencies and blockchain.

The company said it will form an advisory board of human capital that is well versed in evaluating these types of opportunities as a part of a new focus on these opportunities. It will also acquire additional human capital to review and evaluate investment opportunities in the sector.

Vinergy noted that it has received interest and proposals from several Bitcoin, digital currency and blockchain companies seeking investment over the past few months.

The Company views the macro data points in the sector such as all-time high Bitcoin price, influx in investment dollars for the sectors and increased institutional or mainstream adoption as very favourable for several of the opportunities that have been presented to it.

Recently, Tesla also updated its investment policy to enable the company to invest a portion of its cash in certain alternative reserve assets including digital assets, gold bullion, gold exchange-traded funds and other assets as specified in the future.

The luxury electric car maker also revealed it has invested an aggregate of $1.5 billion in Bitcoin to provide it with more flexibility to further diversify and maximize returns on its cash that is not required to maintain adequate operating liquidity.

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe