Bitcoin Well Announces the Ability to Sell Bitcoin Directly from Self Custody and 2024 Annual General and Special Meeting Results

(TheNewswire)

      

Edmonton, Alberta TheNewswire - July 3, 2024 Bitcoin Well Inc. (" Bitcoin Well " or the " Company ") ( TSXV: BTCW ) ; ( OTCQB: BCNWF ), the non-custodial bitcoin business on a mission to enable independence announces Auto Convert bitcoin addresses, which will give customers in the USA the ability to automatically convert bitcoin in their personal bitcoin wallets to dollars in their bank accounts in one single action, as well as the results from the Annual General and Special Meeting results.

  Key highlights  

•  

    Aut Convert bitcoin addresses are available today for all Bitcoin Well customers across all 50 states  

   

 
•  

    Personal "Auto Convert" bitcoin address will automatically convert all bitcoin to dollars and deposit them directly to the customer's linked bank account  

   
 
•  

    All transactions confirmed on the blockchain before 3pm EST will be deposited into the customer's bank same business day  

   
 
•  

    All transactions after 3pm EST will be deposited into the customer's bank the next business day  

   
 

  About Auto Convert bitcoin addresses  

  Bitcoin Well customers in the USA can now benefit from the same Auto Convert bitcoin address that Bitcoin Well customers in Canada have been using. Now, every Bitcoin Well customer can login to their Bitcoin Well account at    bitcoinwell.com/app    , navigate to the new "Sell" page and there they will see their Auto Convert bitcoin address. This Auto Convert bitcoin address will be specific and unique to each customer.  

  All bitcoin sent to this Auto Convert bitcoin address will be automatically converted to dollars, and the dollars will be automatically deposited to their bank account. This means a Bitcoin Well customer can sell bitcoin in their personal bitcoin wallet easily, without even logging into their Bitcoin Well account.  

  "The Auto Convert address is another innovation by Bitcoin Well," said Adam O'Brien, founder and CEO of Bitcoin Well. "We want to couple the convenience of modern banking with the benefits of bitcoin. Now anyone can quickly capitalize on the bitcoin price volatility, while still protecting their bitcoin in self custody, thanks to Auto Convert bitcoin addresses."  

  Roughly 30% of the volume on the Bitcoin Portal in Canada is from customers selling bitcoin. The Company is hopeful that the Bitcoin Portal in the USA will have similar usage within the first few months.  

  Annual General and Special Meeting Results  

  The company is also pleased to announce the voting results from the annual general and special meeting (the "Meeting") of the Company's shareholders held on June 24, 2024. Shareholders voted in favor of all resolutions presented at the Meeting, including re-election of the Company's directors. The detailed results of the vote are set out below:In addition to the election of directors, shareholders also set the size of the Board of Directors at four, re-appointed Kingston Ross Pasnak LLP, Chartered Professional Accountants, as the Company's auditor and approved the adoption of the Company's omnibus equity incentive plan. For additional information concerning the Meeting and the matters approved by shareholders, please refer to the Company's information circular dated May 15, 2024, a copy of which is available on the Company's SEDAR+ profile at www.sedarplus.ca.  

  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  

   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.  

Copyright (c) 2024 TheNewswire - All rights reserved.