- Bitcoin Well (TSXV:BTCW), a stock focused on bringing Bitcoin to the broader public, has purchased 2.469 BTC (average C$141,373), bringing its reserve to 10 BTC (average C$137,738.50) following an initial allocation announced in December
- The purchase coincides with 45 per cent Bitcoin Portal subscriber growth and 37 per cent transaction volume growth from Q3 to Q4 2024
- Bitcoin Well is on a mission to make Bitcoin useful to everyday people through modern banking services, including Bitcoin ATMs and its online Bitcoin Portal
- Bitcoin Well stock has added 280 per cent year-over-year but remains down by 54.76 per cent since inception in 2021
Bitcoin Well (TSXV:BTCW), a stock focused on bringing Bitcoin to the broader public, has purchased 2.469 BTC (average C$141,373), bringing its reserve to 10 BTC (average C$137,738.50) following an initial allocation announced in December.
Bitcoin is the world’s largest cryptocurrency, with a market capitalization of over C$2.7 trillion, according to Coin Market Cap. Investors have pushed its price up by over 140 per cent year-over-year and by over 1,300 per cent since 2020.
The company’s added leverage to the cryptocurrency coincides with over 7,000 new customer registrations and about C$13 million in transaction volume on its Bitcoin Portal in Q4 2024, up by 45 per cent and 37 per cent from Q3, respectively. This robust growth was highlighted by:
- A record 2,700 customer registrations in December, up by 60 per cent from September, with over C$5 million in transaction volume on the Bitcoin Portal in Canada.
- Over 2,400 new customer registrations in November, up by 47 per cent from August, with about C$4.4 million in transaction volume on the Bitcoin Portal in Canada.
Leadership insights
“I am very pleased with our growth to close out the year,” Adam O’Brien, founder and chief executive officer of Bitcoin Well, said in a statement. “We continue to see success as our team delivers monthly, quarterly and yearly growth. Now, with 10 Bitcoin on the company’s balance sheet, I am expecting an excellent year for our team, our customers and our shareholders.”
About Bitcoin Well
Bitcoin Well is on a mission to make Bitcoin useful to everyday people through modern banking services, including Bitcoin ATMs and its online Bitcoin Portal.
Bitcoin Well stock (TSXV:BTCW) last traded at C$0.19 per share. The stock has added 280 per cent year-over-year but remains down by 54.76 per cent since inception in 2021.
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(Top image: Bitcoin Well)
