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LQwD Announces Acquisition of Additional Bitcoins
LQwD Announces Acquisition of Additional Bitcoins Canada NewsWire VAN...
About this update from Lqwd Technologies Corp
[{"type":"text","content":"\n \n \n \n LQwD Announces Acquisition of Additional Bitcoins\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 1, 2021\n \n /CNW/ - LQwD FinTech Corp. (\"LQwD\" or the \"Company\") (TSXV: LQWD) (OTC: INLAF) announces that it has it has purchased an additional\n \n C$4.5 million\n \n worth of Bitcoin since closing its previously\n \n announced\n \n financing. To date, the Company has spent a total of\n \n C$7.8 million\n \n to purchase approximately 133 Bitcoins, which it now holds, at an average cost of approximately\n \n C$59,000\n \n \n (US$47,500)\n \n per Bitcoin.\n \n \n This purchase signifies the further strengthening of LQwD's strategic growth initiative to accumulate Bitcoin as a reserve asset, but more importantly as an operating asset, which underpins the Company's\n \n Lightning Network\n \n SaaS platform that is under development.\n \n \n \"Closing the\n \n $8 million\n \n 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. 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,\" says Chairman and CEO Shone Anstey.\n \n \n \n About LQwD\n \n \n \n LQwD is a Lightning Network Service Provider (LSP) focused company developing payment infrastructure and solutions. The Company's mission is to develop institutional grade services that support the Lightning Network and drive improved functionality, transaction capability, user adoption and utility and scaling Bitcoin. LQwD also holds Bitcoin as an operating asset establishing nodes and payment channels across the Lightning Network.\n \n \n ...