- Bitcoin Well (TSXV:BTCW), a Bitcoin-focused financial services stock, achieved over 18 per cent month-over-month growth in active users in October, reaching a record of 1,529 for the month
- The company processed an additional record of almost 5,000 transactions during the month
- 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 250 per cent year-over-year, but remains down by 66.67 per cent since inception in 2021
Bitcoin Well (TSXV:BTCW), a Bitcoin-focused financial services stock, achieved over 18 per cent month-over-month growth in active users in October, reaching a record of 1,529, while processing an additional record of almost 5,000 transactions for the month.
The company’s active user count is up by 23 per cent from July 2024 and by over 260 per cent year-over-year. This growth translates to 5,280 customers having made at least 1 revenue-generating transaction on its Bitcoin Portal over the past year, representing about 20 per cent of total users on the platform.
Bitcoin Well is optimistic about transaction and customer retention rates continuing to rise as it continues to register new users every month. October saw nearly 2,000 new users, bringing the overall total to nearly 27,000 at the end of the month.
Bitcoin, the largest cryptocurrency by market capitalization, was trading for approximately C$96,000 at the time of writing, having added about 100 per cent year-over-year and over 700 per cent since 2019.
Leadership insights
“When you compare our monthly active user rate against our yearly active user rate you can really see how the Bitcoin Portal is positioned to grow,” Adam O’Brien, Bitcoin Well’s founder and chief executive officer, said in a statement. “I think it’s a testament to the fact that we have built an incredible platform that makes Bitcoin in self-custody easy to use. Word is getting out about our self-custody Bitcoin platform and we’re ready to scale!”
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$0.14 per share. The stock has added 250 per cent year-over-year, but remains down by 66.67 per cent since inception in 2021.
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(Top image: Bitcoin Well)
