With the price of Bitcoin going to the moon, many investors are looking to buy shares of Cryptocurrency brokers. The IPO of Coinbase could be an interesting play, but we don’t know when the company will become public. Today, let’s discuss another cryptocurrency and digital asset technology business, Net Savings Link, Inc. (OTC Pink: NSAV).
The Acquisition Of VirtuaBroker Ltd.
The company delivered a press release announcing the acquisition of VirtuaBroker Ltd. As a result, in February 2021, NSAV shareholders saw the share price increase more than 100%. The corporate transaction is exciting. NSAV expects to compete in the $200 billion annual cryptocurrency market:
Net Savings Link, Inc. (OTC Pink: NSAV), a cryptocurrency and digital asset technology company, today announced the identity of its latest equity acquisition, VirtuaBroker Ltd. (https://virtuabroker.com), a Swiss Cryptocurrency Trading Platform with offices in London and Barcelona. VirtuaBroker, whose platform is based on Artificial Intelligence (AI), offers a full range of trading services, such as portfolio management, price search function, and much more. Their platform supports nearly all the major cryptocurrency exchanges, including Coinbase ($2 billion Revenue in 2019), Binance ($4.2 billion Crypto Assets), Bitfinex ($404 million Net Profits in 2018), and Kraken ($1.25 billion estimated Annual Revenues). Source: Announcement
The acquisition was closed in March 2021, which would explain the recent rebound in the stock price. Investors know that the new acquisition will increase the total amount of assets of NSAV. Some traders seem to be buying shares before the company releases its new financial statements:
On February 23, 2021, the company noted the appointment of a new director to the Board of Directors. I appreciated quite a bit the business profile of the new executive. NSAV appears to have ties with Bitmart Cryptocurrency Exchange, and LABS Group Limited. I believe that these two business partners could offer NSAV Holding, Inc. new Blockchain technology and lower trading fees. In my opinion, it is an announcement that the market did appreciate:
NSAV Holding, Inc. Does Not Expect To Execute A Reverse Split
In the last months, many traders noted that NSAV Holding, Inc. could execute a reverse split. I did not appreciate the idea because it would artificially inflate the company’s share price. NSAV became aware of the rumor and decided to amend its articles of incorporation. Undoubtedly, market participants did most likely appreciate the company’s initiative:
My Takeaway: Follow The Company’s BuyBack Programs
With a total market capitalization of $205 million, NSAV Holding, Inc. has 5.9 billion shares outstanding. I appreciate quite a bit that NSAV Holding, Inc did repurchase stock in the past. In my opinion, if the company acquires shares again, the reduction of the share count could push up the share price. With this in mind, I would be following carefully the next business communications delivered by NSAV Holding:
Disclosure: We don’t own NSAV shares.