Bitcoin Well (TSXV:BTCW,OTCQB:BCNWF) is a two-business-unit organization providing an ecosystem of products and services to make it easy for everyday people to use bitcoin. The company was established in Canada in 2013, has reached significant revenue growth year-over-year since, and has recently expanded the Online Bitcoin Portal to the US market.
Bitcoin Well earns revenue through its two core business lines, which include:
Bitcoin Well earns consistent cash flow through its existing fleet of Bitcoin ATMs. The company reinvests this cash flow into the Online Bitcoin Portal, which is a scalable growth product the company believes will see exponential adoption during the bitcoin bull run – which appears to be underway.
The Bitcoin market often makes headlines when it reaches new heights or lows, but it’s shown consistent growth over the long term. The price of Bitcoin surpassed the US$72,000 mark in March 2024 and is expected to continuously captivate investors’ interest as it follows the typical halving price cycle.
Bitcoin Well has passed significant milestones since its establishment in 2013:
Every product or service offered by the company is wrapped in the security of its non-custodial ecosystem. This is a hot topic right now as multiple custodial exchanges have collapsed in the last few years. The non-custodial ecosystem is widely seen by knowledgeable investors as the safest way to buy bitcoin.
In 2024, Bitcoin Well launched Cash Vouchers, which allow Canadian customers to make cash payments when buying bitcoin from the Bitcoin Portal. Cash Vouchers eliminate the barriers when using digital payments to use the Bitcoin Portal. Bitcoin Well is the only company able to offer this service.
The company intends to utilize its unique positioning of a large network of Bitcoin ATMs and a growing online Bitcoin Portal to begin combining the benefits and set itself out as a true differentiator. These unique differences allow for Bitcoin Well to offer their customer a stickier product with more offerings than other competitors which could open the door for a subscription model or other alternative customer revenue models.
The Bitcoin Well business strategy is embodied in two core product lines, designed to make it easier for everyday people to use bitcoin as part of their financial plans. Both offerings cater to different types of customers.
With more than 190 Bitcoin ATMs across Canada, the Bitcoin Well ATM network provides users a way to buy bitcoin quickly and safely with cash. This well-established, cash-flowing Bitcoin ATM business provides revenue to support the company’s accretive future growth.
This is the most scalable and future-oriented product. It offers the fastest and safest way for North Americans to buy, sell and use bitcoin. Launched in Q4 2022, this offering currently generates monthly revenues exceeding $4.5 million.
Adam O’Brien is a husband, father of four and a bitcoin entrepreneur with a mission to enable independence. Since founding Bitcoin Well in 2013, he has made it easy to buy, sell and use bitcoin both online in the bitcoin-only portal, and in person at Bitcoin ATMs across Canada. Today, Bitcoin Well is a publicly traded organization (BTCW) and is one of the largest bitcoin companies in the country... And it's just getting started!
Jason Vandenberg brings more than 20 years of experience across diverse financial leadership positions and has an established record of leading multiple companies through substantial growth, both organically and through business acquisitions. He has experience with micro-cap companies listed on the TSXV and was involved with the company as they went public in 2021.
Chantel Lillycrop has 10 years of experience in leadership, business development and operations. She has a deep-rooted passion for streamlining processes, optimizing efficiency and fostering collaboration with her teams and external partners. Her mission is to drive the company’s growth while ensuring operational excellence.
James Kerr is an accredited product builder with nearly a decade of experience working with teams to build solutions for both B2B and B2C users. Kerr loves solving problems, challenging conventions, and working with creative people to build and grow products that make the world a better place.
Dave Bradley is widely considered one of the leading experts in Canada on bitcoin and blockchain technology. Before his current role, Bradley founded the world’s first bricks-and-mortar bitcoin store and co-founded the successful company, Bull Bitcoin, which is Canada’s longest-serving bitcoin brokerage. He also serves as a vice-president for the Canadian Blockchain Consortium.
Terry Rhode was one of Rosenau Transport's longest-serving employees and a partial owner. Before starting with Rosenau Transport in 1998, he was a management consultant and advised various businesses on ways to streamline their operations. Rhode is well-versed in every aspect of administration including accounting and IT, operations, change management, project management, sales, and pricing.
Mitchell Demeter brought the world its first Bitcoin ATM in 2013 to Vancouver, BC. After a successful exit, he moved to be the president of Netcoins, a Canadian online cryptocurrency brokerage wholly owned by BIGG Digital Assets. Demeter is a serial entrepreneur with a range of experience in blockchain, exchanges and currency trading. He currently sits on the board of Neptune Digital Assets and advises several other cryptocurrency and fintech businesses including Secure Digital Markets and Inetco Systems.
Mark Binns has a long history and deep experience in the bitcoin and cryptocurrency markets, and valuable connections in the Canadian and US capital markets. Binns is the former CEO of Netcoins, a leading Canadian cryptocurrency broker, and BIGG Digital Assets, a diversified public Canadian digital asset company.
On a mission to enable independence by combining the convenience of modern banking with the benefits of Bitcoin
(TheNewswire)
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Edmonton, Alberta TheNewswire - April 10, 2025 Bitcoin Well Inc. (" Bitcoin Well " or the " Company ") ( TSXV: BTCW; OTCQB: BCNWF ), the non-custodial bitcoin business on a mission to enable independence announces the addition of the Lightning Network for selling bitcoin on the Bitcoin Portal in the USA and a shares for debt settlement.
Customers can now go directly from bitcoin in their personal Lightning wallets directly to dollars in their bank using the Lightning Network. This will enable smaller transactions with fewer fees for customers of the Bitcoin Portal at bitcoinwell.com, increasing their independence.
Now, when a customer wants to sell bitcoin, they will enter the amount of dollars they want to receive, select their connected bank account, and choose between the Bitcoin and Lightning Network.
Previously, when the customer would sell bitcoin over the Bitcoin Network they had to pay mining fees and wait 4 confirmations before the transfer to their bank was initiated. Now it will happen instantly, with no fees thanks to the addition of the Lightning Network into the Bitcoin Portal at bitcoinwell.com.
Further, due to the non-custodial nature of the Bitcoin Portal, Bitcoin Well customers can hold bitcoin in their wallets longer and benefit from a smoother customer experience. With other platforms the customer would need to fund their bitcoin account balance (which puts their funds at risk), sell the bitcoin and then request the withdrawal to their bank.
From their Bitcoin Well account this happens in one single action. Directly from bitcoin in their personal wallets, to cash in their bank.
The Company is indebted to certain creditors in the total amount of $139,817 as of March 31, 2025 (the "Outstanding Debt"), pursuant to certain use of bitcoin agreements and a convertible debenture agreement (collectively, the "Agreements"). The Outstanding Debt is interest accrued under the Agreements. Bitcoin Well has elected to settle $104,155 of the Outstanding Debt by issuing 801,190 common shares in the capital of the Company (the "Shares") at a deemed price of $0.13 per Share and will settle $35,662 of the Outstanding Debt by issuing 342,903 Shares at a deemed price of $0.104 per Share (the "Debt Settlement"). The Debt Settlement remains subject to TSX Venture Exchange approval. All Shares issued in satisfaction of the Outstanding Debt will be subject to a statutory hold period of four months plus one day.
It is anticipated that a director of the Company will participate in the Debt Settlement through a wholly owned subsidiary. Such participation will be considered to be a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the related party participation in the Debt Settlement as neither the fair market value (as determined under MI 61- 101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it will involve interested parties, is expected to exceed 25% of the Company's market capitalization (as determined under MI 61-101).
About Bitcoin Well
Bitcoin Well is on a mission to enable independence. We do this by making bitcoin useful to everyday people to give them the convenience of modern banking and the benefits of bitcoin. We like to think of it as future-proofing money. Our existing Bitcoin ATM and Online Bitcoin Portal business units drive cash flow to help fund this mission.
Join our investor community and follow us on Nostr , , and to keep up to date with our business.
Bitcoin Well contact information
To book a virtual meeting with our Founder & CEO Adam O'Brien please use the following link: https://bitcoinwell.com/meet-adam
For additional investor & media information, please contact:
Adam O'Brien
Tel: 1 888 711 3866
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .
Forward-looking information
Certain statements contained in this news release may constitute forward-looking information, which is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", or the negative thereof and similar expressions. All statements herein other than statements of historical fact constitute forward-looking information including, but not limited to, statements in respect of Bitcoin Well's business plans, strategy and outlook. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information including, but not limited to, the risk factors described in Bitcoin Well's annual information form and management's discussion and analysis for the year ended December 31, 2024. Forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents Bitcoin Well's expectations as of the date hereof and is subject to change. Bitcoin Well disclaims any intention or obligation to revise any forward-looking information, except as required by applicable securities legislation.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Bitcoin Well Inc. (TSXV: BTCW) (OTCQB: BCNWF) ("Bitcoin Well" or the "Company"), the non-custodial bitcoin business on a mission to enable independence, announced today that it has established an at-the-market equity program (the "ATM Program") that allows the Company to issue and sell, at its discretion, up to $5,000,000 of common shares ("Shares") to the public from time to time.
Distributions of the Shares under the ATM Program will be made pursuant to the terms of an equity distribution agreement (the "Distribution Agreement") dated March 28, 2025 between Bitcoin Well and Haywood Securities Inc. (the "Agent"). All Shares sold under the ATM Program will be sold through the TSX Venture Exchange or other recognized Canadian marketplace at prevailing market prices at the time of sale. The ATM Program will be effective until the earlier of March 28, 2027 and the completion of the issuance and sale of all of the Shares issuable pursuant to the ATM Program, subject to earlier termination by Company or the Agent in accordance with the terms of the Distribution Agreement.
The ATM Program is intended to provide the Company with additional financing flexibility should it be required in the future. The volume and timing of distributions under the ATM Program, if any, will be determined in the Company's sole discretion. As Shares distributed under the ATM program will be sold at the prevailing market price at the time of sale, prices may vary among purchasers during the term of the ATM Program.
The Company intends to use the net proceeds from the ATM Program, if any, together with the Company's current cash resources, to fund general corporate purposes, including ongoing operations and/or working capital requirements; to repay indebtedness outstanding from time to time; to complete future acquisitions; to fund research and development, intellectual property development; or for other corporate purposes.
The offering of Shares under the ATM Program is qualified by a prospectus supplement dated March 28, 2025 (the "Prospectus Supplement") to the short form base shelf prospectus dated March 6, 2025 (the "Shelf Prospectus"). Copies of the Prospectus Supplement, the Shelf Prospectus and the Distribution Agreement are available under Bitcoin Well's profile on the SEDAR+ website at www.sedarplus.ca. Alternatively, the Company or the Agent will send the Prospectus Supplement (including the Shelf Prospectus) upon request. Such requests may be made by sending an email to Haywood at ecm@haywood.com.
This news release shall not constitute an offer to sell, or the solicitation of an offer to buy, the Shares, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
The securities being referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Bitcoin Well
Bitcoin Well is on a mission to enable independence. We do this by making bitcoin useful to everyday people to give them the convenience of modern banking and the benefits of bitcoin. We like to think of it as future-proofing money. Our existing Bitcoin ATM and Online Bitcoin Portal business units drive cash flow to help fund this mission.
Join our investor community and follow us on Nostr, LinkedIn, X (formerly Twitter) and YouTube to keep up to date with our business.
Bitcoin Well contact information
To book a virtual meeting with our Founder & CEO Adam O'Brien please use the following link: https://bitcoinwell.com/meet-adam
For additional investor & media information, please contact:
Adam O'Brien
Tel: 1 888 711 3866
ir@bitcoinwell.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
Certain statements contained in this news release may constitute forward-looking information, which is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", or the negative thereof and similar expressions. All statements herein other than statements of historical fact constitute forward-looking information including, but not limited to, statements in respect of Bitcoin Well's business plans, strategy and outlook; and the intended use of proceeds from the ATM Program. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information including, but not limited to, the risk factors described in Bitcoin Well's annual information form and management's discussion and analysis for the year ended December 31, 2024. Forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents Bitcoin Well's expectations as of the date hereof and is subject to change. Bitcoin Well disclaims any intention or obligation to revise any forward-looking information, except as required by applicable securities legislation.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246488
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(TheNewswire)
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Edmonton, Alberta March 25, 2025 TheNewswire - Bitcoin Well Inc. (" Bitcoin Well " or the " Company ") ( TSXV: BTCW; OTCQB: BCNWF ), the non-custodial bitcoin business on a mission to enable independence announces the addition of the Lightning Network in the USA as a method of immediate delivery after a bitcoin purchase. This means US customers in all 50 states can now buy bitcoin and have it sent to their personal bitcoin wallets on the Lightning Network, saving money on blockchain transaction costs and preventing wallet bloat.
This move will also reduce Bitcoin Well transaction expenses as it reduces the cost to send bitcoin to customer's personal bitcoin wallets. Further, it enables customers to buy smaller amounts, more frequently, which is in line with our ethos to "Replace your bank with Bitcoin Well"
"The Lightning Network makes it faster and easier for our customers to buy bitcoin more often while taking self-custody" explained Adam O'Brien, founder and CEO of Bitcoin Well. "I expect this addition will earn us more transactions from customers, especially as we add the ability to sell over Lightning and Swap to and from the main chain in the coming weeks."
Customers can buy bitcoin one-time or with a Recurring Buy with money directly from their bank. They can have their paychecks deposited to Bitcoin Well and converted to bitcoin, or they can use their Cash Balance to convert dollars to bitcoin. And now, their bitcoin can be instantly delivered to their Lightning wallet with no additional fees. This advancement in our products enables our customers to buy more frequently without the fear of on-chain fees or UTXO management.
About Bitcoin Well
Bitcoin Well is on a mission to enable independence. We do this by making bitcoin useful to everyday people to give them the convenience of modern banking and the benefits of bitcoin. We like to think of it as future-proofing money. Our existing Bitcoin ATM and Online Bitcoin Portal business units drive cash flow to help fund this mission.
Join our investor community and follow us on Nostr , , and to keep up to date with our business.
Bitcoin Well contact information
To book a virtual meeting with our Founder & CEO Adam O'Brien please use the following link: https://bitcoinwell.com/meet-adam
For additional investor & media information, please contact:
Adam O'Brien
Tel: 1 888 711 3866
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .
Forward-looking information
Certain statements contained in this news release may constitute forward-looking information, which is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", or the negative thereof and similar expressions. All statements herein other than statements of historical fact constitute forward-looking information including, but not limited to, statements in respect of Bitcoin Well's business plans, strategy and outlook. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information including, but not limited to, the risk factors described in Bitcoin Well's annual information form and management's discussion and analysis for the year ended December 31, 2023. Forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents Bitcoin Well's expectations as of the date hereof and is subject to change. Bitcoin Well disclaims any intention or obligation to revise any forward-looking information, except as required by applicable securities legislation.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
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Edmonton, Alberta March 12, 2025 TheNewswire Bitcoin Well Inc. (" Bitcoin Well " or the " Company ") ( TSXV: BTCW; OTCQB: BCNWF ), the non-custodial bitcoin business on a mission to enable independence, today announced financial and operating results for the fourth quarter and year ended December 31, 2024.
Revenue of $30.1 million for the 3-months ended December 31, 2024 (Q4 2023: $13.6 million, +121%); and $90.5 million for the year ended December 31, 2024 (2023: $54.5 million, +66%)
Revenue growth driven by continuing significant growth on the Bitcoin Portal (Bitcoin Portal revenue +361% in Q4 2024 and +201% full year).
Unique registrations grew by more than 5,000 in Q4 to a total of over 32,000 as of December 31, 2024 (representing growth of 28% from September 30, 2024 and 191% from December 31, 2023).
As of March 1, 2025 the Company has over 37,000 unique registrations
Financial overview
For the three months ended, | For the year ended, | |||||||
Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2023 | |||||
Revenue | $ 30,059,063 | $ 13,590,048 | $ 90,513,400 | $ 54,531,838 | ||||
Gross Profit | 1,220,390 | 1,427,803 | 3,970,608 | 4,826,169 | ||||
Adjusted EBITDA (1) | 25,673 | 177,360 | (1,655,890) | (440,794) | ||||
Adjusted Cash Flow (1) | (154,672) | (138,489) | (2,598,072) | (2,102,581) | ||||
Total comprehensive loss | (2,477,571) | (1,264,707) | (7,110,154) | (5,303,177) | ||||
(1) See Non-IFRS Measures.
The Company's overall revenue in the fourth quarter of 2024 showed a substantial 121% increase, reaching $30.1 million compared to $13.6 million in Q4 2023. This growth was primarily driven by increased transaction volumes on the Bitcoin Portal, including from Bitcoin Well Infinite - which provides large bitcoin transactions to high net worth individuals.
The Company also debuted Bitcoin Well Infinite in the USA through a strategic partnership in Q4. Volume in the USA through the first couple months exceeded $3,000,000 and is expected to grow in Q1 2025. Both the Bitcoin Portal and Bitcoin Well Infinite have a lower gross profit margin than the Bitcoin ATMs, but are more scalable and cost less to expand making them the optimal growth business unit.
"I am happy to report these revenue numbers!" said Bitcoin Well Founder and CEO Adam O'Brien, "I am more certain of the Bitcoin Portal's product-market fit than ever before. The addition of Bitcoin Well Infinite offering large bitcoin transactions directly to self custody looks like a recipe for success and we are excited to continue growing this service line. I'm confident our increased scale will outpace the costs of growth soon."
Gross profit decreased to $1.2 million in Q4 2024 from $1.4 million last year due to a lower overall gross margin. This was primarily caused by a shift in sales mix, with lower margin online transactions now representing a larger share compared to high margin Bitcoin ATM sales. The Company views this shift as a necessary step in the successful transition to a highly scalable online bitcoin platform.
During Q4 2024, the Company's online segment's gross margin increased to 1.7%, from 1.3% in Q4 2023, +30% improvement
This news release should be read in concert with the full disclosure documents. The Bitcoin W ell consolidated financial statements and Management Discussion & Analysis for the years ended December 31, 2024 and 2023 ("MD&A") will be available on the Bitcoin Well website ( www.bitcoinwell.com ), via SEDAR+ ( www.sedarplus.ca ) or can be requested from the Company.
The Company uses certain terms in this news release, such as ‘Adjusted EBITDA' and ‘Adjusted Cash Flow', which do not have a standardized or prescribed meaning under International Financial Reporting Standards (IFRS), and accordingly, these measurements may not be comparable with the calculation of similar measurements used by other companies.
Please refer to the "Non-IFRS Financial Measures" section in the Company's MD&A for applicable definitions, calculations, and rationale for use. Non-IFRS measures are provided as supplementary information by which readers may wish to consider the Company's performance, but should not be relied upon for comparative or investment purposes.
See the table below for a reconciliation of each non-IFRS measure to its nearest IFRS measure:
Three months ended | Year ended | |||||||
Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2023 | |||||
Net loss | $ | (9,828,152) | $ | (5,204,590) | $ | (17,777,117) | $ | (12,024,324) |
Financing fees | 612,264 | 683,513 | 2,567,439 | 2,285,183 | ||||
Depreciation and accretion | 97,127 | 297,084 | 651,902 | 1,416,882 | ||||
Fair value change - crypto loans (1) | 8,100,878 | 4,328,718 | 13,974,453 | 7,421,089 | ||||
Fair value change - investments | - | 337,635 | - | 337,635 | ||||
Share based compensation | 142,024 | (19,633) | 467,952 | 483,430 | ||||
Foreign exchange loss (gain) | 492,913 | (8,568) | 599,760 | 9,846 | ||||
Loss (gain) on debt settlement | 937 | 10,779 | (19,063) | 14,703 | ||||
Loss (gain) on disposal of equipment | 609 | - | (481) | 7,991 | ||||
Fair value change - crypto inventory (1) | (488,006) | - | (784,679) | (12,401) | ||||
Fair value change - convertible debt | 1,194,636 | - | 1,194,636 | - | ||||
Realized gain on digital assets (1) | (299,557) | (247,578) | (2,530,692) | (622,535) | ||||
Income tax expense | - | - | - | 241,707 | ||||
Adjusted EBITDA | $ | 25,673 | $ | 177,360 | $ | (1,655,890) | $ | (440,794) |
Less: financing fees | (612,264) | (683,513) | (2,567,439) | (2,285,183) | ||||
Add: non-cash interest items (2) | 431,919 | 367,664 | 1,625,257 | 623,396 | ||||
Adjusted Cash Flow | $ | (154,672) | $ | (138,489) | $ | (2,598,072) | $ | (2,102,581) |
(1) Non-cash, fair value change on the revaluation of cryptocurrency loans is largely offset by revaluation changes in inventory and gains (losses) on digital assets, which are recorded in both income (if realized) and other comprehensive Income (if unrealized).
(2) Non-cash interest items include interest on cryptocurrency loans that were settled in common shares or are intended to be settled in common shares as well as non-cash interest on the line of credit where the accrued interest is added to the principal balance of the loan.
About Bitcoin Well
Bitcoin Well is on a mission to enable independence. We do this by making bitcoin useful to everyday people to give them the convenience of modern banking and the benefits of bitcoin. We like to think of it as future-proofing money. Our existing Bitcoin ATM and Online Bitcoin Portal business units drive cash flow to help fund this mission.
Join our investor community and follow us on Nostr , , and to keep up to date with our business.
Bitcoin Well contact information
To book a virtual meeting with our Founder & CEO Adam O'Brien please use the following link: https://bitcoinwell.com/meet-adam
For additional investor & media information, please contact:
Adam O'Brien
Tel: 1 888 711 3866
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .
Forward-looking information
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", or the negative thereof and similar expressions. All statements herein other than statements of historical fact constitute forward-looking information including, but not limited to statements in respect of: revenue growth from the Bitcoin Portal in 2025; improving gross margins from the Online Segment; and Bitcoin Well's business plans, strategy and outlook.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information, including, but not limited to the following: economic and financial conditions, volatility in the capital or credit markets; the level of demand and financial performance of the cryptocurrency and digital asset industry, the occurrence of force majeure events; the extent to which the Company is successful in gaining new long-term users or retaining existing users; developments and changes in laws and regulations, disruptions to the Company's technology network; inability to obtain financing; competitive factors; and such other factors as discussed in the "Risks and Uncertainties" section of the Company's MD&A.
Bitcoin Well actual results could differ materially from those anticipated in this forward-looking information as a result of the foregoing risk factors and other factors, many of which are beyond the control of Bitcoin Well.
Bitcoin Well believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents Bitcoin Well expectations as of the date hereof, and is subject to change after such date. Bitcoin Well disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
For more information, see the Note Regarding Forward Looking Statements found in the Bitcoin Well MD&A.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Bitcoin Well Inc. (TSXV: BTCW) (OTCQB: BCNWF) ("Bitcoin Well" or the "Company"), the non-custodial bitcoin business on a mission to enable independence, is pleased to announce that it has obtained a receipt for its final short form base shelf prospectus (the "Shelf Prospectus") filed with the securities commissions in each of the provinces and territories of Canada.
The filing of a Shelf Prospectus is intended to provide the Company with financing flexibility. Under the Shelf Prospectus, the Company may issue and sell up to C$25,000,000 of common shares, preferred shares, warrants, subscription receipts, units, debt securities, or any combination thereof, from time to time over the 25-month period that the Shelf Prospectus remains effective. The specific terms of any actual offering of securities (if any) will be set forth in one or more shelf prospectus supplement(s) to the Shelf Prospectus, which will be filed with the applicable Canadian securities regulatory authorities in connection with any such offering.
Each prospectus supplement will contain specific information concerning, among other matters, the securities to be issued and the use of proceeds from any such issuance. There is no certainty that any securities will be offered or sold under the Shelf Prospectus. A copy of the Shelf Prospectus and any shelf prospectus supplements that may be filed in the future, can be found under the Company's SEDAR+ profile at www.sedarplus.ca.
The securities being referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Bitcoin Well
Bitcoin Well is on a mission to enable independence. We do this by making bitcoin useful to everyday people to give them the convenience of modern banking and the benefits of bitcoin. We like to think of it as future-proofing money. Our existing Bitcoin ATM and Online Bitcoin Portal business units drive cash flow to help fund this mission.
Join our investor community and follow us on Nostr, LinkedIn, Twitter and YouTube to keep up to date with our business.
Bitcoin Well contact information
To book a virtual meeting with our Founder & CEO Adam O'Brien please use the following link: https://bitcoinwell.com/meet-adam.
For additional investor & media information, please contact:
Adam O'Brien
Tel: 1 888 711 3866
ir@bitcoinwell.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
Certain statements contained in this news release may constitute forward-looking information, which is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", or the negative thereof and similar expressions. All statements herein other than statements of historical fact constitute forward-looking information including, but not limited to, statements in respect of Bitcoin Well's business plans, strategy and outlook. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information including, but not limited to, the risk factors described in Bitcoin Well's annual information form and management's discussion and analysis for the year ended December 31, 2023. Forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents Bitcoin Well's expectations as of the date hereof and is subject to change. Bitcoin Well disclaims any intention or obligation to revise any forward-looking information, except as required by applicable securities legislation.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243788
News Provided by Newsfile via QuoteMedia
At the time of this writing, Bitcoin (BTC) was priced at US$83,823.99 and up 5.2 percent in 24 hours. The day's range has seen a low of US$81,675.28 and a high of U$83,968.58.
Bitcoin performance, April 11, 2025.
Chart via TradingView.
Markets recovered on Friday afternoon after a week of unprecedented volatility triggered by an ongoing trade war between the US and China. Stronger-than-expected producer price index data out of the US suggests inflation could be easing, igniting a recovery for the crypto and stock markets.
Ethereum (ETH) is priced at US$1,565, a 3 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$1,549.00 and a high of US$1,582.64.
US President Donald Trump has signed into law a bill nullifying an Internal Revenue Service (IRS) rule that controversially expanded the definition of “broker” to include decentralized finance (DeFi) platforms.
The regulation, finalized in the waning days of the Biden administration, would have required DeFi protocols — which operate without intermediaries — to report detailed user transaction data to the IRS, something crypto developers argued was both technically unfeasible and legally dubious.
With bipartisan support, both chambers of Congress passed the reversal using the Congressional Review Act. The decision is part of Trump’s broader pledge to position the US as a global crypto leader.
In his first week back in office, he created a federal working group on cryptocurrency regulation and signed an executive order to build a national Bitcoin reserve. The Trump administration has also repeatedly criticized the Biden-era IRS framework as stifling innovation and creating legal liabilities for developers.
Intending to build on the US Securities and Exchange Commission's (SEC) Crypto Task Force, the commission's Division of Corporation Finance issued guidance on how federal securities laws should apply to crypto.
The commission said companies issuing or dealing with tokens that could be securities should give better details about their business. However, the statement didn’t provide clarity on what digital assets could be securities.
Crypto companies typically provide details about their operations, the function of their tokens, and their plans for generating revenue. They also address their future involvement with any launched crypto networks or apps, specifying who will take responsibility for them if the company itself does not.
The SEC has requested that cryptocurrency companies provide additional details about their technology. This includes specifying whether their product uses a proof-of-work or proof-of-stake blockchain, as well as information about its block size, transaction speed, reward mechanisms and the measures taken to ensure network security.
The SEC also asked whether the protocol is open-source or not.
It added that a company should share if a protocol’s code can be modified, and if so, who can make such changes and whether the smart contracts involved have been subjected to a third-party security audit.
Other disclosures the statement mentioned are whether the token’s supply is fixed and how it was or will be issued, along with identifying executives and “significant employees.”
New York could soon become one of the first US states to formally integrate cryptocurrency into government operations.
A newly filed bill, Assembly Bill A7788, introduced by Assemblymember Clyde Vanel, proposes to allow state agencies to accept crypto — including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash — for a wide range of payments such as taxes, fees, rent, and fines.
The proposed legislation would authorize agencies to enter agreements with crypto payment providers, ensuring that final settlements are made in fiat currency to shield state budgets from crypto market volatility.
More importantly, the bill stipulates that debts would not be considered legally settled until the state receives full fiat payment, preserving the integrity of public finance processes.
Agencies may also charge service fees to offset transaction costs and volatility hedging. While this is not the first time such a proposal has emerged — similar bills were introduced in previous legislative sessions but failed to advance — the current climate of growing mainstream adoption and Trump-era pro-crypto sentiment may improve its chances.
The SEC and Ripple have filed a joint motion to put their appeals in abeyance, pausing proceedings in a sign that both entities anticipate a settlement will be reached when newly appointed SEC Chairman Paul Atkins takes over.
The Senate confirmed Atkins on April 9; however, no date has been set for his swearing-in.
“An abeyance would conserve judicial and party resources while the parties continue to pursue a negotiated resolution of this matter,” the parties jointly stated in an April 10 court filing. Ripple’s defense attorney, James Filan, said the new filing supersedes the April 16 deadline for Ripple to respond to the SEC’s brief filed in January.
In other developments, the SEC dismissed its lawsuit against Helium developer Nova Labs for allegedly issuing unregistered securities.
BlackRock (NASDAQ:BLK) released its Q1 earnings report on Friday, reporting US$84 billion in total net inflows in the first quarter of 2025, marking a 3 percent annualized growth in assets under management (AUM).
Its performance was led in part by US$107 billion in net inflows to its iShares ETFs, roughly US$3 billion, or 2.8 percent, directed to digital asset products. Digital AUM amounted to US$50.3 billion at the end of Q1, roughly 0.5 percent of the firm’s US$11.6 trillion total AUM.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
At the time of this writing, Bitcoin (BTC) was priced at US$82,060.13 and up 7.2 percent in 24 hours. The day's range has seen a low of US$76,842.48 and a high of US$82,665.31.
Bitcoin performance, April 9, 2025.
Chart via TradingView.
Bitcoin is back to trading near levels seen earlier in the week following an announcement from the White House that tariffs against most countries will be paused for 90 days, after which reciprocal tariffs will be lowered to 10 percent. China is an exception — tariffs against the country have been boosted immediately to 125 percent.
Ethereum (ETH) is priced at US$1,633.44, an 11.9 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$1,459.15 and a high of US$1,661.40.
The US government’s Bitcoin holdings have dropped by nearly US$2 billion in value since April 2 — dubbed “Liberation Day” by President Donald Trump — following a steep market selloff triggered by tariff announcements.
According to Arkham Intelligence, the 198,012 BTC held by federal agencies declined in value from US$17.24 billion to US$15.21 billion in just under a week as Bitcoin slid from over US$87,000 to below US$77,000.
An executive order made by Trump in March established a strategic Bitcoin reserve sourced from seized assets, further tying federal coffers to price swings in the cryptocurrency. The losses come as the administration ramps up global economic pressure, testing the volatility of its newly created digital reserve.
The Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence (AI) held a hearing on Wednesday to examine why current regulations may not apply to digital asset activities, and to explore which of these activities trigger US securities laws. Members of the subcommittee also discussed how Congress can address challenges through legislative action that reduces legal uncertainty while encouraging innovation.
At the hearing, Rodrigo Seira, special counsel to law firm Cooley, told the subcommittee that current securities laws are not flexible enough to account for digital assets, citing a long list of crypto projects that have tried and failed to register their products with the US Securities and Exchange Commission (SEC).
“It is clear that the current securities regulatory framework is not a viable option to regulate crypto. It fails to achieve its stated policy goals,” Seira said in his opening remarks.
“(T)he idea that crypto projects can come in and register with the SEC is demonstrably false.”
Seira admitted that it is critical to apply federal regulations to crypto promoters; however, “virtually no crypto projects have successfully registered their tokens under federal securities laws and lived to tell the tale.”
Representative Bryan Steil, head of the subcommittee, praised the progress that lawmakers have made, mentioning last week’s passing of the STABLE Act in the House of Representatives, before directing the subcommittee to the next stage of the process, namely comprehensive digital asset market structure legislation.
Pakistan is turning to Bitcoin mining and AI data centers as a solution for its surplus electricity problem, aiming to repurpose excess power into revenue-generating infrastructure.
Bilal Bin Saqib, head of the country’s Crypto Council, told Reuters that mining sites will be selected based on regional energy overcapacity, with former Binance CEO Changpeng Zhao advising on the initiative.
Despite regulatory ambiguity, Pakistan ranks among the top 10 countries in global crypto adoption and boasts over 15 million users. The move also emphasizes youth blockchain upskilling and fostering innovation in fintech through regulatory sandboxes to boost exports and economic resilience.
Crypto exchange Kraken is teaming up with Mastercard (NYSE:MA) to roll out crypto debit cards across the UK and Europe, enabling users to spend digital assets at more than 150 million merchants.
The partnership builds on Kraken Pay, which allows seamless crypto-to-fiat transactions in over 300 currencies.
The new physical and digital cards — set to launch in the coming weeks — are aimed at expanding crypto’s real-world utility and normalizing digital asset payments.
Kraken CEO David Ripley views this as a critical step toward integrating crypto into everyday commerce, while Mastercard has underscored its commitment to innovating in digital finance and supporting blockchain initiatives.
Binance announced on Tuesday (April 8) its decision to delist 14 tokens — BADGER, BAL, BETA, CREAM, CTXC, ELF, FIRO, HARD, NULS, PROS, SNT, TROY, UFT and VIDT — from its platform on April 16.
The decision follows a comprehensive evaluation that included a review of project commitment and trading volume. The outcome also incorporated the results of Binance’s newly introduced "Vote to Delist" mechanism, which allows users to vote on potentially underperforming tokens based on their BNB holdings.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
At the time of this writing, Bitcoin (BTC) was displaying a slight recovery to US$78,142.37, down 1.8 percent in 24 hours. The day's range has brought a low of US$75,822.10 and a high of US$80,818.20.
Bitcoin performance, April 7, 2025.
Chart via TradingView.
Within a 24 hour period, Bitcoin saw US$468.88 million worth of positions closed due to liquidations, based on data from Coinglass at the time of this writing. However, as the top cryptocurrency's price plummets, its network has demonstrated a surge in computational power, with the hashrate establishing a new all-time high.
Data gathered from Glassnode by CoinDesk shows Bitcoin’s hashrate hit 1.025 zetahashes per second on April 4 for the first time since its inception, exceeding the previous record set on January 31 of this year.
Bloomberg strategist Mike McGlone suggested to Cointelegraph that Bitcoin could potentially fall to US$10,000.
Ethereum (ETH) is priced at US$1,544.90, a 5 percent decline over the past 24 hours.
The cryptocurrency reached an intraday low of US$1,486.10 and a high of US$1,608.86. Coinglass data shows liquidations totalling US$348.04 million in 24 hours.
Michael Saylor’s Strategy (NASDAQ:MSTR) said it will register an eye-watering US$5.9 billion unrealized loss in Q1 after adopting fair-value accounting for its Bitcoin reserves — a policy shift that reflects BTC’s steep pullback this year.
The loss comes after a fresh buying spree in early 2025, which left the firm with roughly US$1 billion in paper losses on recent acquisitions alone. The company will also log a US$13 billion boost to retained earnings due to the new accounting standards, highlighting the volatile nature of being Wall Street’s leading BTC proxy.
Strategy shares tumbled as much as 14 percent on Monday, raising new questions about whether Saylor’s “buy-and-hold forever” ethos can withstand institutional scrutiny in a more volatile macro climate.
Mantra, a layer-1 blockchain built for tokenized real-world assets (RWAs), has launched the Mantra Ecosystem Fund (MEF), a US$108,888,888 ecosystem fund to accelerate the growth and adoption of projects and startups on its network.
According to a press release, MEF will find potential investments through Mantra's large network of partners, which includes incubators, accelerators and investment firms like Laser Digital, Shorooq and others.
Mantra CEO John Patrick Mullin told Cointelegraph that the fund will operate an “open-arms policy, welcoming projects at any developmental stage globally with a particular focus on RWA’s and DeFi.”
Pakistan’s Crypto Council (PCC), a newly formed regulatory body overseeing the country’s adoption of blockchain technology and digital assets, has appointed former Binance CEO Changpeng Zhao (CZ) to act as a strategic advisor on matters such as regulation, infrastructure and adoption.
"Pakistan is opening its doors to the future of finance," said PCC CEO Bilal Bin Saqib.
"And who better to guide us on this journey than CZ — a pioneer who built the world's largest crypto exchange and changed the way billions think about financial freedom."
Last month, Saqib told Bloomberg that Pakistan intends to pursue international investment in the crypto sector. The country aims to capitalize on its young, tech-savvy population and its potential as a growing, cost-effective market.
CZ was also tapped to advise the Kyrgyz Republic on blockchain and crypto-related regulation on April 3.
Hong Kong’s Securities and Futures Commission has unveiled formal guidelines allowing licensed exchanges and funds to offer staking services, provided strict custodial and disclosure requirements are met.
Staking, crucial for securing proof-of-stake networks and generating passive returns, had previously been a regulatory gray area in the city. Under the new rules, exchanges must retain direct control of client assets, explicitly barring third-party delegation, and provide full transparency on risks, fees and lockup periods.
The move reflects Hong Kong’s ambitions to rival other financial hubs and attract global digital asset firms amid the regulatory vacuum in jurisdictions like the US, where staking remains under scrutiny.
South Korea’s National Pension Service (NPS), one of the world’s largest public pension funds, is moving to incorporate blockchain technology into its operational infrastructure, according to a recent Seoul Economic Daily report.
With over US$800 billion in assets under management, the NPS aims to use blockchain to improve tracking of transactions, client withdrawals and investment flows, especially for foreign clients.
Though the fund is not directly investing in crypto, it has taken equity positions in firms like Coinbase and Strategy, signaling long-term confidence in the industry’s underlying technology.
The NPS initiative aligns with the nation’s growing retail enthusiasm for crypto. South Korea now boasts more than 16 million crypto investors, a surge that has accelerated since US President Donald Trump's electoral win, with market participants anticipating a more favorable global crypto environment.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
President Donald Trump's anticipated crypto-friendly policies initially boosted sentiment, and Bitcoin rose to its current all-time high of US$108,786 on January 20, the day he was inaugurated.
Crypto positivity was also reflected in options trading, where open interest outpaced the Bitcoin spot price.
Total Bitcoin options open interest vs. the Bitcoin price, January 2 to March 31, 2025.
Chart via Coinglass.
However, low volume provided insufficient support for high prices, foreshadowing the volatility to come.
Q1 data from Coinglass shows that Bitcoin fell 11.82 percent and Ethereum dropped 45.41 percent for the period, with February seeing the largest losses at 17.39 percent for Bitcoin and 31.95 percent for Ethereum.
Bitcoin’s price at the end of the Q1 was around US$80,000, while Ethereum — which has struggled to retake US$2,000 after dipping below that threshold mid-March — closed at around US$1,800.
Proposed economic policies, an impending trade war and poor economic data have acted as major catalysts, resulting in a turn from risky assets like crypto and tech stocks toward traditional safe havens like bonds and gold.
Despite market fluctuations, some areas of the crypto sector experienced notable growth and development in Q1.
Speaking at Benzinga's Fintech & FODA Event in December 2024, Venable partner Chris O’Brien said that Sam Bankman-Fried's conviction marked the end of an initial highly speculative phase for cryptocurrencies.
While cryptocurrencies and blockchain technology will persist, their future hinges on moving beyond mere speculation and focusing on practical applications that address real-world problems.
A defining feature, identified early in the quarter by Bitwise’s Matthew Hougan, is the continued and increasing involvement of institutional players in the crypto market. This trend manifested in strategic investments from companies like Strategy (NASDAQ:MSTR) and BlackRock, both of which accumulated substantial portions of Bitcoin’s supply in Q1.
Major banks like BNY Mellon, which have incorporated cryptocurrency services to allow transactions between certain clients using Circle’s USDC, also began expanding their crypto services.
Earlier this year, Bank of America (NYSE:BAC) CEO Brian Moynihan told CNBC’s Andrew Ross Sorkin that the US banking industry is eager to integrate crypto into traditional banking if — or, more likely, when — regulation allows for it.
Alongside institutional interest, stablecoins saw significant growth in Q1. The total market cap for stablecoins surged past US$200 billion, outpacing Bitcoin's price trajectory for the period.
Total stablecoin market cap vs. the Bitcoin price, Q1 2025.
Chart via Coinglass.
A key crossover occurred in February after the US announced tariffs targeting Canada and Mexico. The move resulted in a downturn in both cryptocurrencies and traditional markets.
Amid these developments, lawmakers turned their focus to passing stablecoin legislation, specifically Senator Bill Hagerty's (R-Tenn.) GENIUS Act, which is currently awaiting a full House vote. Kristin Smith, CEO of the Blockchain Association, said during Blockworks' 2025 Digital Asset Summit in New York that lawmakers are on pace to pass legislation establishing rules for stablecoins and cryptocurrency market structure by August.
Divestitures into altcoins continued from Q4 2024, although momentum slowed comparatively, a shift exacerbated by speculative meme coin trading and the controversies surrounding projects like TRUMP, MELANIA and LIBRA.
Bitcoin retook its dominant position, but notable interest in SOL and XRP remained, as multiple firms sought to offer spot ETFs; their approval is all but guaranteed by former US Securities and Exchange Commission (SEC) Chair Gary Gensler’s exit. Applications have also been filed to offer ETFs tracking SUI, AVA and DOGE.
Ethereum’s Q1 presented a complex picture, marked by both progress and setbacks.
The network increased its gas limit to enhance throughput and enable complex DeFi applications; however, competition from other blockchains — particularly Solana — caused it to underperform. Additionally, the upcoming Pectra upgrade ran into testing issues on the Holesky and Sepolia testnets, causing delays.
Declining network activity contributed to price suppression, but the tripling in total value for BlackRock's BUIDL fund in the weeks leading up to the end of Q2 signaled continued confidence in Ethereum's long-term potential and a broader trend toward tokenization, mirrored in the growth of the real-world asset (RWA) market.
The market cap of RWAs grew by approximately US$5 billion in Q1 to reach almost US$20 billion as tokenization was applied to diverse assets and expanded across various blockchains.
Q1 brought various developments in cryptocurrency regulation and policy in the US.
After taking office, Trump signed an executive order establishing the President’s Working Group on Digital Asset Markets to establish criteria for a national stockpile of digital assets and develop a dollar-backed stablecoin; meanwhile, working groups in both chambers of Congress have focused on developing regulatory frameworks for digital assets.
While key aspects of regulation are still under negotiation, lawmakers and regulators signaled a more collaborative approach to cryptocurrencies under the Trump administration in Q1. The SEC dropped several longstanding cases against crypto exchange facilitators, formed a crypto-focused taskforce led by Commissioner Hester Peirce and repealed SAB 121, allowing banks to hold crypto for their customers without assets to balance liabilities.
Industry leaders also convened at the White House on March 7 for the inaugural Digital Asset Summit, a federal initiative aimed at gathering feedback on proposed regulations for the cryptocurrency sector.
Ahead of the summit, Trump signed an executive order to establish a Bitcoin reserve of around 200,000 Bitcoin (BTC). The US government currently holds 213,246 BTC. Bills that would allow the US government to acquire and hold Bitcoin in reserve have been introduced in both the House of Representatives and the Senate.The executive order also established a separate reserve for altcoins, although some industry analysts have questioned this strategy.
Transform Ventures CEO and Bitcoin Supercycle author Michael Terpin argued against holding anything other than Bitcoin, the only truly decentralized and consistently performing digital asset.
He likened adding other cryptos to adding stocks to traditional reserves.
State-level initiatives to establish Bitcoin reserves in Arizona, Oklahoma, Texas and Utah also advanced alongside similar measures to allow pension fund investments in digital assets in North Carolina and other states.
The first quarter of the year was marked by market volatility and corrections, with both Bitcoin and altcoins experiencing significant price swings that were not only driven by typical market data, but were also heavily influenced by current events, evolving policies and even speculative social media trends.
Another challenge for the crypto market was opposition to proposed legislation in the US; insider trading and market manipulation concerns also arose, particularly around meme coin launches.
Suspiciously timed trades occurred before Trump's strategic crypto reserve executive order: a large deposit was made to Hyperliquid, followed by highly leveraged trades on Bitcoin and Ethereum, resulting in profits exceeding US$6.8 million. This led many, including a prominent crypto analyst, to believe it was a case of insider trading.
Analysis by Material Indicators on March 20 also identifies a manipulatory device known as spoofing by one or more whales, which it cites as a reason for Bitcoin’s failure to sustain a rally past US$87,500 in March.
Despite efforts to improve regulation and security, the crypto industry continues to grapple with hacking incidents as well. A major hack of the Bybit exchange on February 23 led to losses of US$195 million, although the firm managed to fully replenish its reserves within 72 hours thanks to a mix of loans and large deposits from other industry players.
Glassnode Insights analysts said the correction following the hack and subsequent US$5.7 billion withdrawal from user wallets pushed Bitcoin’s monthly performance down by 13.6 percent. Altcoins and meme coins suffered even steeper losses, resetting market momentum to April 2024 levels.
Analysis provided to the Investing News Network by intelligence platform IntoTheBlock reveals that price increases tend to diminish following each Bitcoin halving, suggesting market maturation.
Moderate Bitcoin growth and price appreciation are expected in mid- to late 2025, tied to stablecoin and DeFi growth.
Bitcoin price performance post-halving.
Chart via IntoTheBlock.
Price targets for Bitcoin this year vary. Network economist Timothy Peterson has predicted that Bitcoin could peak around US$126,000 in the latter half of 2025. A meta-analysis of Polymarket estimates posted by X user Ashwin on March 26 identifies a bull target price of US$138,617 and a bear price of US$59,040.
The potential for a supply shock due to diminishing Bitcoin reserves on exchanges could fuel a rally. Factors like a weakening US dollar and an end quantitative tightening from the US Federal Reserve are seen as positive catalysts. Historical data shows April is often a turning point for the market.
Stablecoins and RWAs are expected to continue their role in the convergence of DeFi with traditional finance. Furthermore, initiatives like the Digital Chamber's US Blockchain Roadmap, which proposes BitBonds (Bitcoin-backed US Treasuries), could revitalize debt markets and attract global capital.
Key industry figures like Galaxy Digital's Mike Novogratz and 10T Holdings' Dan Tapiero, anticipate new crypto companies listing on major exchanges like the NYSE and Nasdaq in the second quarter. This sentiment is supported by reports of initial public offering filings from companies like eToro, Circle, Gemini, Bullish and BitGo.
However, this positive outlook is set against a turbulent economic backdrop, including a possible slowdown in US growth and uncertainty around inflation and trade policies, which could influence sentiment and capital flows.
Speaking virtually at the Digital Asset Summit in New York on March 18, Cathie Wood, CEO of ARK Invest, expressed concerns about a potential recession, citing a significant slowdown in the velocity of money.
“I think what’s happening, though, is that if we do have a recession, declining GDP, that this is going to give the president and the Fed many more degrees of freedom to do what they want in terms of tax cuts and monetary policy,” she said.
However, Wood also said she believes that "long-term innovation wins," despite the recent market correction, describing crypto assets as a pillar of ARK's investment approach.
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Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
At the time of this writing, Bitcoin (BTC) had recovered to US$83,879.15, up 2.3 percent in 24 hours. The day's range has brought a low of US$81,950.04 and a high of US$84,497.52.
Bitcoin performance, April 4, 2025.
Chart via TradingView.
The crypto market staged an apparent recovery by the end of Friday's trading session. US President Donald Trump's announcement of new global tariffs has unsettled financial markets, as reflected in risk assets.
Ethereum (ETH) is priced at US$1,808.88, a 1.3 percent increase over 24 hours. The cryptocurrency reached an intraday low of US$1,772.16 and a high of US$1,823.14.
Eric Trump has revealed to CNBC that his family's business pivoted toward the cryptocurrency sector following what he describes as "unprecedented financial deplatforming."
After the Trump Organization faced legal scrutiny and banking restrictions — including the closure of over 300 accounts by Capital One Financial (NYSE:COF) — the Trump brothers decided to turn to digital assets.
This led to the creation of World Liberty Financial, a US dollar-backed stablecoin venture, and American Bitcoin, a new Bitcoin-mining company co-founded with Hut 8 (NASDAQ:HUT) CEO Asher Genoot.
According to Eric Trump, the shift to crypto was as much about financial opportunity as it was about resistance.
He claims that during what he calls a "war on the industry," major banks were shutting down accounts simply for holding Bitcoin, and regulatory agencies were targeting crypto firms through aggressive lawsuits.
Now, with Donald Trump back in the White House, the US has taken a more crypto-friendly stance, including signing an executive order to establish a strategic Bitcoin reserve and pardoning Silk Road founder Ross Ulbricht.
US lawmakers in the Senate Committee on Banking voted to advance Paul Atkins as chair of the US Securities and Exchange Commission (SEC) on Thursday (April 3) through a final vote of 13 to 11.
If approved, Atkins will take over for Gary Gensler, who resigned as chair on January 20. Gensler's term ends in June 2026, after which Atkins will serve a second consecutive term that will terminate in 2031.
Atkins' nomination will now move to a full Senate vote on a yet-to-be-determined date. Experts predict a likely confirmation. Interim Chair Mark Uyeda is currently sitting in the role.
Crypto exchange Coinbase Global (NASDAQ:COIN) filed on Thursday with the US Commodity Futures Trading Commission (CFTC) to launch futures contracts tracking Ripple’s token, XRP.
“We’re excited to announce that Coinbase Derivatives has filed with the CFTC to self-certify XRP futures — bringing a regulated, capital-efficient way to gain exposure to one of the most liquid digital assets,” Coinbase said in an X post that day, adding that it anticipates that the contract will go live on April 21.
Monthly-settled, margined contracts will trade under the symbol XRP. Each contract will represent 10,000 XRP, worth about US$20,000 at the current value. Trading will halt if the spot XRP price deviates over 10 percent in an hour.
In other news, Grayscale filed an S-1 application with the SEC on Friday to convert its Grayscale Solana Trust into a spot SOL exchange-traded fund trading under the ticker symbol GSOL.
A Friday report from the Wall Street Journal suggests that stablecoin firm Circle may delay its initial public offering (IPO). The event was originally slated for April 11, according to the firm's S-1 filing.
“Circle had been nearing its next steps in going public but is now watching anxiously before deciding what to do,” the news outlet's report reads, before suggesting that fintech companies Klarna and Chime may also postpone their IPOs amid ongoing market turmoil triggered by the unfolding global trade war.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
At the time of this writing, Bitcoin (BTC) was changing hands at US$86,494.14, up 2.4 percent in 24 hours. The day's range has brought a low of US$85,315.82 and a high of US$87,210.70.
Bitcoin performance, April 2, 2025.
Chart via TradingView.
Technical analysis indicates a period of potential change for Bitcoin, with the possibility of a shift from a downtrend to an uptrend. However, the market remains uncertain, and various factors could influence its future price.
Ethereum (ETH) is priced at US$1,918.18, a 0.5 percent increase over 24 hours. The cryptocurrency reached an intraday low of US$1,860 and a high of US$1,914.30.
Grayscale expanded its digital asset offerings with the launch of two Bitcoin exchange-traded funds (ETFs): the Grayscale Bitcoin Covered Call ETF (BTCC) and the Grayscale Bitcoin Premium Income ETF (BPI).
Both ETFs employ an options selling strategy to generate income.
BTCC sells call options to maximize income generation. It is designed for investors who prioritize income over potential price appreciation. While providing income, this strategy limits potential gains if Bitcoin's price increases.
BPI also sells options, but aims to balance income generation with potential price appreciation. It is designed for investors who want both income and the opportunity to benefit from a rising Bitcoin price.
The US Securities Exchange Commission (SEC) and Gemini have jointly requested a 60 day stay in a lawsuit filed by the SEC against Gemini concerning the Gemini Earn program, which the SEC alleges violated securities laws. The core of the commission’s argument is that Gemini Earn is an investment contract under the Howey Test.
The lawsuit dates back to January 2023, during former SEC Chair Gary Gensler’s tenure. According to the request, which was filed on Tuesday (April 1), both parties are open to settlement discussions and believe a temporary pause in the litigation would be beneficial to reaching a potential resolution.
Cryptocurrency exchange Kraken has secured a restricted dealer registration from the Ontario Securities Commission (OSC) through its Canadian subsidiary, Payward Canada.
According to documentation filed on Tuesday, the registration allows Kraken to facilitate specific digital asset trading activities for Ontario residents. However, activities are subject to regulatory oversight imposed by the OSC, including measures to limit Kraken’s management of digital assets and safeguards to protect clients.
Senator Ted Cruz (R-Texas) has introduced the Facilitate Lower Atmospheric Released Emissions (FLARE) Act, a bill designed to encourage Bitcoin miners and other industries to harness stranded natural gas for on-site energy generation. It aims to improve grid resilience, reduce emissions and solidify Texas as a leader in Bitcoin mining.
FLARE, endorsed by the Digital Power Network, provides permanent full expensing for infrastructure that captures and utilizes flared gas, while restricting access for entities linked to China, Iran, North Korea and Russia.
Cruz emphasized that this initiative supports energy innovation, strengthens economic growth and promotes the responsible use of excess energy resources.
Sony Electronics Singapore has partnered with Crypto.com to integrate USDC stablecoin payments, marking a significant step toward mainstream crypto adoption in the region.
Crypto.com Singapore’s general manager, Chin Tah Ang, stated that the collaboration aims to simplify crypto payments for consumers and expand digital currency use in everyday commerce. This development comes as other businesses, such as the Metro Holdings (SGX:MO1) department store chain, embrace stablecoin payments.
Singapore’s pro-crypto regulatory framework has fueled rapid industry growth, with a doubling of crypto-related licenses in 2024, positioning the nation as a major blockchain hub.
BlackRock has successfully registered with the UK’s Financial Conduct Authority (FCA), allowing it to facilitate crypto-related transactions for its iShares Digital Assets unit.
The FCA’s crypto register, established in 2020 to enforce anti-money laundering compliance, has approved only 51 out of 368 applications, highlighting the strict regulatory environment.
As an authorized arranger, BlackRock can now support subscriptions and redemptions of exchange-traded products (ETPs) tied to crypto assets. However, the firm is restricted from onboarding new clients or operating automated crypto-to-fiat exchange mechanisms without additional regulatory approval.
BlackRock’s registration follows similar approvals granted to Coinbase and other major players navigating the UK’s evolving crypto landscape.
Alabama lawmakers have introduced Senate Bill 283 and House Bill 482, which aim to allow the state to invest up to 10 percent of its public funds in Bitcoin.
The legislation, designed to position Bitcoin as a strategic financial asset, restricts investments to digital assets with a market capitalization exceeding US$750 billion — currently limited to Bitcoin. The bills specify that state-held Bitcoin must be stored by the state treasurer, a qualified custodian or via ETPs.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.