- LQWD Technologies (TSXV:LQWD) reveals it has added an additional 16 bitcoin to its portfolio, bringing its total bitcoin held to 31
- The total represents a current value of C$12.3 million
- The acquisition also supports LQWD’s mission to grow Bitcoin-Per-Share holdings
- Shares of LQWD Technologies are unchanged at $0.87
LQWD Technologies (TSXV:LQWD) reveals it has added an additional 16 bitcoin to its portfolio to bring its total bitcoin held to 31, representing a total valuation of $12.3 million.
The company stated in a news release that the additional Bitcoin acquisitions support LQWD’s mission to grow its Bitcoin-per-share holdings.
“We are maximizing shareholder value by increasing and deploying our Bitcoin holdings on LQWD’s Lightning Network infrastructure, which earns fees and compounds our Bitcoin holdings,” Shone Anstey, CEO of LQWD Technologies, said in a statement. “This investment not only reflects our confidence in Bitcoin as a store-of-value but also reinforces our dedication to advancing the Lightning Network ecosystem.”
Thanks to the additional Bitcoin, the company revealed that a large portion of its market cap will be backed by Bitcoin assets that further strengthen its financial position.
Since November 2021, the company has completed more than 930,000 transactions. With its Bitcoin holdings now at 31, the additional assets further strengthen LQWD’s efforts in expanding its Lightning Network infrastructure.
LQWD Technologies also continues to expand its network growth, with more than 1,200 connected channels across countries such as France, Brazil, Sweden, Italy, Singapore and Japan.
With headquarters in Vancouver, LQWD Technologies is focused on Lightning Network transaction infrastructure to enable instant, low-cost, internet-powered payments.
Shares of LQWD Technologies Corp. (TSXV:LQWD) are unchanged at $0.87.
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