BitBack announces Bitcoin purchasing plan to strengthen its balance sheet
BitBack, the pioneering Bitcoin rewards app, have announced its plans to further add Bitcoin to its balance sheet. The company has initiated a dollar cost averaging (DCA) program to enhance its existing Bitcoin (BTC) stack, aligning itself with its Australian users already adding Bitcoin to their accounts via thousands of merchant reward offers and direct purchasing enabled by BitBack’s Top-Up feature.
BitBack acts as a key point of entry for consumers to engage with and integrate Bitcoin into their everyday activities. The app simplifies the process for newcomers while providing experienced cryptocurrency enthusiasts with a new way to accumulate and earn Bitcoin rewards from their daily interactions such as shopping, mortgage payments, daily coffee purchases, or bill payments.
“We are thrilled to take this next step to strategically increase the existing Bitcoin on our balance sheet,” said Leigh Dunsford, Co-Founder of BitBack. “This move underscores our commitment to Bitcoin and its potential as a long-term store of value. By dollar cost averaging, we aim to strategically build our Bitcoin treasury while reinforcing our mission to make Bitcoin accessible to everyone.”
Since its launch earlier in 2024, BitBack has been actively distributing Bitcoin rewards to its customers. Through its comprehensive suite of Bitcoin rewards services, BitBack customers can increase their savings while contributing to the growth of BitBack’s Bitcoin treasury. The existing suite of services includes earning bitcoin cashback rewards when shopping at over 1,500 Australian stores such as BWS, Pizza Hut, Adidas, Milkrun and more or when purchasing bitcoin directly in-app when a user wants a Top-Up.
Looking ahead, BitBack plans to introduce new products in the second half of 2024, including features that facilitate card payments globally, Bitcoin transfers, in-app gaming products and enhanced bitcoin rewards on all payments globally. These additions are expected to further enhance user engagement and provide more opportunities for customers to earn and accumulate Bitcoin through their everyday activities.
