| BTCS Inc. | |
| Trading Name: | Btcs Inc. |
| Type: | Public company |
| Industry: | Technology |
| Hq Location: | Arlington, Virginia |
| Key People: | Charles W. Allen, Manish Paranjape |
| Services: | Cryptocurrency stock |
| Revenue: | (2023) |
| Num Employees: | 30 (2024) |
| Footnotes: | Financials |
BTCS Inc. is a blockchain technology company[1] that allows investors to stake digital assets on a decentralized platform integrated by the Web3 data network protocol.[2] In June 2013, the company was cofounded by Michal Handerhan, Timothy Sidie and Charles W. Allen[3] and headquartered in Arlington, Virginia.[4] BTCS is the first company that rewards shareholders in Bitcoin cryptocurrency dividends payouts.[5] [6] In BTCS was listed as a publicly traded company on the Nasdaq Capital Market in February 2014 under the ticker symbol of "BTCS.[7] [8] " 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.[9]
During an interview with Bloomberg, Charles W. Allen[10] discussed the volatility of digital cryptocurrency investments compared to a public company. Allen primarily focused on issues involving reliability and transparency of nontangible assets.
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. [11] 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.
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$11.50 per stock during December 2023.[12]
Blockchain networks secured by BTCS include Ethereum, Cosmos ($ATOM), Avalanche ($AVAX), Axie Infinity ($AXS), Kava ($KAVA), Kusama ($KSM), Near ($NEAR), Polkadot ($DOT), Polygon Matic ($MATIC) and Solana ($SOL).