BTCS, Inc. (NASDAQ: BTCS) is engaged as a blockchain and cryptocurrency infrastructure and technology company, which secures Proof-of-Stake blockchains by engaging in processing and validating transactions on the blockchain. BTCS is working on a proprietary Staking-as-a-Service platform, which would allow cryptocurrency users to stake and delegate cryptos through a non-custodial platform. Shares of the blockchain and crypto company are rallying 52%, through early trading on Wednesday, January 5, 2022. Over the past three months, BTCS has seen average daily volume of 213,790 shares. However, volume of 12.42 million shares or dollar volume of around $57.63 million, has already exchanged hands through early trading Wednesday.
Shares of BTCS are soaring after the company announced plans to issue the first payable dividend in Bitcoin by a Nasdaq-listed company. Dubbed a “bividend,” shareholders will have the option to receive their dividend in Bitcoin or cash. The company says it will pay $0.05 per share in Bitcoin, based on the BTC price on the day of the ex-dividend.
In order to opt-in for the “bividend,” shareholders must follow specific steps laid out by the company in a recent 8-K from January 5, 2022. Any shareholder who does not opt-in for the “bividend” prior to the ex-dividend date will receive the dividend in cash. BTCS says the record date is March 17, 2022 and the ex-dividend deadline to opt-in for the Bitcoin dividend is March 16, 2022.
“We want to reward our long-time shareholders for their continued support and encourage financial freedom by providing the means to enable direct ownership of Bitcoin and other digital assets,” stated Charles Allen, Chief Executive Officer of BTCS. “In the crypto space BTCS has a long history of firsts, including being the first pure-play U.S. public company focused on cryptocurrencies and blockchains, the first U.S. public company to mine Bitcoin, the first U.S. public company to implement a digital asset treasury strategy, and the first U.S. public company to secure next-generation proof-of-stake blockchains.”
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