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BTCS Inc.

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American blockchain technology company
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BTCS Inc.
Trade nameBtcs Inc.
Company typePublic company
Traded as
IndustryTechnology
FoundedJune 2013; 11 years ago (2013-06)
Founders
  • Michal Handerhan
  • Timothy Sidie
HeadquartersArlington, Virginia
Key peopleCharles W. Allen,
Manish Paranjape
ServicesCryptocurrency stock
RevenueIncrease US$1.03 million (2023)
Number of employees30 (2024)
Websitewww.btcs.com
Footnotes / references
Financials as of January 31, 2023

BTCS Inc. is a blockchain technology company that allows investors to stake digital assets on a decentralized platform integrated by the Web3 data network protocol. In June 2013, the company was cofounded by Michal Handerhan, Timothy Sidie and Charles W. Allen and headquartered in Arlington, Virginia. BTCS is the first company that rewards shareholders in Bitcoin cryptocurrency dividends payouts. In BTCS was listed as a publicly traded company on the Nasdaq Capital Market in February 2014 under the ticker symbol of "BTCS." BTCS hosts an online e-commerce marketplace where cryptocurrency investors may purchase merchandise with virtual assets such as Bitcoin ($BTC) and Ethereum ($ETH). BTCS Inc. authenticates proof-of-stake (PoS) with proof-of-work (PoW) concept by providing public signature for blockchain transactions.

During an interview with Bloomberg, Charles W. Allen discussed the volatility of digital cryptocurrency investments compared to a public company. Allen primarily focused on issues involving reliability and transparency of nontangible assets.

Shareholders

According to an announcement published on January 5, 2022, BTCS Inc. (Nasdaq: BTCS) a blockchain technology company has proclaimed its first-ever dividend payable in Bitcoin by a Nasdaq-listed company, which the Company refers to as a Bividend. A Bividend is a dividend payable to company shareholders of record at in Bitcoin cryptocurrency. Since 2014, BTCS has secured Bitcoin governance framework through supporting blockchain technology. BTCS rewards shareholders in $0.05 per share in Bitcoin based on the Bitcoin price on the ex-dividend date. Investors may have the option to receive a payout through Bitcoin or stock shares.

"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," Charles W. Allen announced in a press statement for Yahoo Finance News. Allen stated in an interview with Securities Exchange Commission, “Now, we are the first Nasdaq-listed company to pay a Bividend, a dividend payable in Bitcoin at the option of our shareholders. This is a moment we have long anticipated since the Company purchased the domain, bividend.com, in February 2015. BTCS is now in the financial position required to execute on the Company’s vision."

The steps required to become a company shareholder on record for the books and record of our transfer agent, Equity Stock Transfer, and opt-in to the Bividend are outlined on bividened.com and disclosed on a Form 8-K filed with the Securities and Exchange Commission on January 5, 2022. Any shareholder who does not opt-in to receive a Bividend payout will receive an equivalent cash dividend.

History

On December 31, 2023, approximately 15.32 million stock shares of outstanding and common stock have been issued exactly 14.57 million shares of preferred stock issued and outstanding, precisely 3 million stock options including restricted stock units and 712,000 shareholder securities warrant. The securities were listed per common share with a market price set US$11.50 per stock during December 2023.

Blockchain networks secured by BTCS include Ethereum, Cosmos ($ATOM), Avalanche ($AVAX), Axie Infinity ($AXS), Kava ($KAVA), Kusama ($KSM), Near ($NEAR), Polkadot ($DOT), Polygon Matic ($MATIC) and Solana ($SOL).

References

  1. Locke, Taylor (2022-01-06). "One company is offering dividends in bitcoin—but experts say it may be better to just buy the cryptocurrency directly". CNBC. Retrieved 2024-11-13.
  2. Ember, Sydney (2014-12-04). "Second Bitcoin Auction Draws Fewer Bidders". DealBook. Retrieved 2024-11-13.
  3. "BTCS to Commence Trading on Nasdaq". U.S. Securities and Exchange Commission. September 13, 2021.
  4. Leger, Donna Leinwand. "Bitcoin: Super currency or super fad?". USA TODAY. Retrieved 2024-11-13.
  5. Bellusci, Michael (2022-01-05). "Blockchain Firm BTCS to Offer Dividend in Bitcoin; Shares Surge". www.coindesk.com. Retrieved 2024-11-13.
  6. ^ "BTCS First-ever Nasdaq-listed Company to Offer a Dividend Payable in Bitcoin". Yahoo Finance. January 5, 2022.
  7. Rubin, James (2021-09-13). "BTCS to Start Nasdaq Trading". www.coindesk.com. Retrieved 2024-11-13.
  8. ^ "Nasdaq-Listed Firm Says It Will Offer the First Bitcoin Dividend". Bloomberg.com. 2022-01-05. Retrieved 2024-11-13.
  9. "Blockchain firm BTCS soars on retail rush for bitcoin dividends". Reuters. January 13, 2022.
  10. "Charles W Allen, Btcs Inc: Profile and Biography". Bloomberg.com. Retrieved 2024-11-13.
  11. Watch Federal Government Auctions off Bitcoins - Bloomberg, 2015-03-05, retrieved 2024-11-13
  12. ^ "BTCS First-ever Nasdaq-listed Company to Offer a Dividend Payable in Bitcoin". U.S. Securities and Exchange Commission.
  13. Fox, Matthew. "Crypto company BTCS soars 67% after it announces first-ever bitcoin dividend". Markets Insider. Retrieved 2024-11-13.

External links

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