VANCOUVER, BC / ACCESSWIRE / October 25, 2024 / LQWD Technologies Corp. (TSXV:LQWD)(OTCQB:LQWDF) ("LQWD" or the "Company"), a leading provider of enterprise-grade transaction infrastructure and liquidity services for the Bitcoin Lightning Network, is pleased to announce that the Company has recently acquired an additional ~16 Bitcoin.
With this recent purchase, LQWD now holds 131 Bitcoin, representing 13.1 billion Satoshi's, equating to 808 Satoshi's per LQWD share. LQWD's Bitcoin holdings are free and clear of any encumbrances with a current value of approximately CDN$12.3 million.
This acquisition also aligns with LQWD's mission to grow Bitcoin-Per-Share holdings and further solidifies LQWD's position as a leading Lightning Network infrastructure and liquidity services.
Key Highlights:
Bitcoin-Per-Share Increase: The current and recent Bitcoin purchases boost the Company's Bitcoin-Per-Share metric.
Market Capitalization Enhancement: With the additional Bitcoin holdings, a larger proportion of LQWD's market capitalization will be backed by Bitcoin assets, strengthening the Company's financial position.
Strategic Growth Initiative: This move complements LQWD's ongoing efforts to expand its industry leading Lightning Network infrastructure, which has now processed over 930,000 transactions since its launch in November 2021.
Shone Anstey, CEO of LQWD, says "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. 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."
LQWD continues to experience robust network growth, with over 1,200 connected channels across key regions, including France, Brazil, Sweden, Italy, Singapore, and Japan. The Company's focus on AI-driven network optimization and efficient channel management has positioned it at the forefront of the Lightning Network landscape.
For more details, please refer to LQWD's corporate presentation and stay updated on our Lightning Network node growth or connect to the Company's nodes in real time.
About LQWD Technologies Corp.
LQWD is a Canadian-based, publicly traded company focused on expanding Lightning Network transaction infrastructure to enable instant, low-cost, internet-powered payments. The Company is committed to delivering enterprise-ready solutions for open payments at scale using the Lightning Network.
For further information:
Ashley Garnot, Director
Phone: 1.604.669.0912
Email: ashley@lqwd.money
Website: www.lqwdtech.com
Twitter: @LQWDTech
Forward-Looking Statements
This release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's business plans and the outlook of the Company's industry. Although the Company believes, considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: LQWD Technologies
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