Bitcoin Well Announces Executive Promotions and User Growth Updates

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Bitcoin well

Online user growth

Online user growth in recent months

EDMONTON, Alberta, Jan. 31, 2023 (GLOBE NEWSWIRE) — Bitcoin Well Inc. (TSXV: BTCW) (Bitcoin Well or Company) is pleased to announce leadership promotions as well as an update to the company prior to our fourth quarter and year-end 2022 financial statements.

The Society is pleased to announce the promotion of Allen Stephen, CPA, CA as an official member of the Board of Directors. Allen has been an integral part of our team over the past year and has helped us with a number of different initiatives. We are delighted to have him as a distinguished member of the Board of Directors to continue to help shape the strategy of our organization.

Bitcoin Well is also pleased to announce the promotion of Luke Thibodeau, CPA, CFA to Chief Financial Officer. Luke has been a member of our organization since 2020, serving as Chief Financial Officer, Chief Compliance Officer and Acting Chief Financial Officer at that time.

I look forward to transitioning to the board and am proud to hand over the CFO position to Luke, who I have worked closely with over the past 12 months, Allen said. I will continue to bring my experience in fintech, banking and start-ups to our strategic board, as we continue to build in this revolutionary industry.

Luke Thibodeau has successfully led successful accounting and finance teams throughout his career. His financial experience includes tenures at MNP LLP, one of Canada’s leading accounting and professional services firms, and at PriceWaterhouseCoopers (PwC), an international professional services firm. Mr. Thibodeau earned his Chartered Professional Accountant (CPA) designation from CPA Western School of Business in 2020 and his Certified Anti-Money Laundering Specialist (CAMS) designation from ACAMS in 2021. , Mr. Thibodeau became a Chartered Financial Analyst (CFA) in December 2022.

Luke has been a valued member of our team since joining the team nearly three years ago. It was quick to grasp the nuances of our industry and is now embedded in a bitcoin ethos that could rival some of the biggest bitcoin OGs, said Adam, the company’s founder and CEO. With the addition of his CFA charter last year and working with Allen, I have personally seen his financial knowledge and expertise grow to a level that I am sure will allow Bitcoin Well to thrive as we enter a new era of bitcoin industry and public markets.

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Finally, the company is announcing a development update for our online portal at bitcoinwell.com/app. Since securing convertible debt in February 2022, we have achieved a number of technology and user milestones. As a reminder, our online portal is a non-custodial platform that allows individuals to buy and sell bitcoins in less than 30 seconds directly from their bank account using either Interac e-Transfer or Visa Debit.

Bitcoin Well is the fastest and safest place to buy bitcoins online, said Adam OBrien, Founder and CEO of Bitcoin Well. One of the major successes of our portal has been its ability to attract and retain customers with little to no marketing or advertising costs, Adam continued. As we expect the average cost of customer acquisition to increase (currently around $2/user), we are committed to innovation, which will help us fuel the spark that has been our growth in 2022. The company’s non-custodial ecosystem allows users to have the speed and competitive prices they are used to, wrapped in the safest way to buy bitcoin. I believe our non-custodial platform provides the obvious alternative for customers who are actively looking for a safer place to buy bitcoin following a year full of custodian failures.

The growth of online users over the past few months is shown in the following graph:

Online user growth in recent months

The company is expected to release its fourth quarter and 2022 financial results on Feb. 16.

About Bitcoin Well

Bitcoin Well is in the money-safety business. We do this by making bitcoin useful to ordinary people to give them the convenience of modern banking and the benefits of bitcoin. Our existing Bitcoin ATM and Personal Services business unit generates cash flow to help fund this mission.

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Bitcoin Well Contact Information To book a virtual meeting with our Founder and CEO Adam OBrien, please use the following link: https://calendly.com/adamobitcoin/meet-adam

For more investor and media information, please contact: Tel: 1 888 711 [email protected]

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.

Forward-Looking Information: Certain statements contained in this press 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”, “have the intention to”, “should”, or its negative form and similar expressions. 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.

Bitcoin Well’s actual results could differ materially from those anticipated in this forward-looking information due to regulatory decisions, competitive factors in the industries in which Bitcoin Well operates, prevailing economic conditions and other factors, many of which are beyond Bitcoin Well’s control. Well bitcoin.

Bitcoin Well believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that such expectations will prove to be correct and such forward-looking information should not be relied upon unduly.

Any forward-looking information contained in this press release represents Bitcoin Well’s 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 laws.

For more information, see the cautionary note regarding forward-looking information found in Bitcoin Well’s quarterly management discussion and analysis.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4ef6a421-3eff-4ac3-9333-d51a0b3bebf5

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