Crypto Company Nearing Its 52-Week Highs On Exciting Corporate Developments

By: Dylan Sikes – AllPennyStocks.com News

Thursday, November 14, 2024

With risk-on trading continuing to build in cryptocurrencies, companies are jumping head-on with growth plans of their own. Today, a crypto company that we’ve discussed in the past, continues to expand in aggressive ways, sending shares higher as investors applaud the company’s future path.

As mentioned, shares of Bitcoin Well Inc. (TSX-Venture: BTCW) (OTCQB: BCNWF) are on the rise, over 9% at last check on news of the company updating its investors on its Bitcoin Super Company vision along with a new strategic bitcoin reserve fund.

According to Adam O’Brien, founder and CEO of Bitcoin Well, the Company’s Bitcoin Portal has become the nucleus of the Company, surpassing Bitcoin ATM revenue and growth potential. As of today, Bitcoin Portal was approaching 28,000 total registrations across Canada and the USA.

Speaking on the strategic bitcoin reserve fund, the fund will allow Bitcoin Well to allocate excess working capital to the balance sheet denominated in bitcoin. The Company intends to eventually be able to add to this bitcoin reserve fund in “micro allocations”, with portions of each transaction going to the reserve fund directly and automatically.

Shares of BTCW have taken off in the last month alongside the overall crypto market, with shares closing in on their 52-week highs.

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