NetworkNewsBreaks – LQwD Fintech Corp. (TSX.V: L
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Posted On: 11/01/2021 3:43:26 PM
NetworkNewsBreaks – LQwD Fintech Corp. (TSX.V: LQWD) (OTC: LQWDF) Announces Acquisition of Additional C$4.5M Worth of Bitcoin
LQwD Fintech (TSX.V: LQWD) (OTC: LQWDF) today announced that it has purchased an additional C$4.5 million worth of Bitcoin since closing its previously announced financing. According to the update, the company has spent a total of C$7.8 million to date to purchase approximately 133 Bitcoins, which it now holds, at an average cost of approximately C$59,000 (US$47,500) per Bitcoin. “Closing the $8 million financing has allowed us to acquire further Bitcoin, which is an important step for the company to progress its short-term business goals to launch our platform as a service commercially, then focus on on-boarding clients and providing them with strong connectivity to the Lightning Network,” said LQwD chairman and CEO Shone Anstey. “This plays into our long-term objective of having a significant number of Lightning Network payment channels with Bitcoin staked on them (a requirement of the network) that are active across the Lightning Network and allow us to forward and route transactions as a major network participant and earn fees for doing so.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
LQwD Fintech (TSX.V: LQWD) (OTC: LQWDF) today announced that it has purchased an additional C$4.5 million worth of Bitcoin since closing its previously announced financing. According to the update, the company has spent a total of C$7.8 million to date to purchase approximately 133 Bitcoins, which it now holds, at an average cost of approximately C$59,000 (US$47,500) per Bitcoin. “Closing the $8 million financing has allowed us to acquire further Bitcoin, which is an important step for the company to progress its short-term business goals to launch our platform as a service commercially, then focus on on-boarding clients and providing them with strong connectivity to the Lightning Network,” said LQwD chairman and CEO Shone Anstey. “This plays into our long-term objective of having a significant number of Lightning Network payment channels with Bitcoin staked on them (a requirement of the network) that are active across the Lightning Network and allow us to forward and route transactions as a major network participant and earn fees for doing so.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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