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    BTCS   US05581M4042

BTCS INC.

(BTCS)
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Blockchain firm BTCS soars on retail rush for bitcoin dividends

01/13/2022 | 09:27am EDT

Jan 13 (Reuters) - Shares in blockchain technology-focused firm BTCS Inc rocketed on Thursday, set to extend a four-day rally, as more retail investors scooped them up after the company last week offered to pay dividends in bitcoin.

The Silver Spring, Maryland-based company has seen its stock value more than double since Jan. 5, when it proposed to pay $0.05 per share in bitcoin to those who opt for it. Its first bitcoin dividend, or "bividend" as the company calls it, is due on March 16.

Shares of BTCS climbed 31.5% to a six-week high of $8.86 in premarket trading on Thursday as the online buzz over its plan grew in forums such as Reddit and stocktwits.com, which were instrumental in the "meme stock" frenzy last year.

Nearly 5 million BTCS shares changed hands, more than the company's public float of 4.2 million shares. A smaller number of free float shares makes the stock vulnerable to sharp moves.

"This is a moment we have long anticipated since the Company purchased the domain, bividend.com, in February 2015," CEO Charles Allen said in a statement last Wednesday.

BTCS, last valued at $69 million, claims to be the first Nasdaq-listed firm to offer dividends in bitcoin. Video game retailer GameStop on Friday jumped as much as 22% on plans to launch a division to develop a marketplace for nonfungible tokens (NFTs).

Meanwhile, prices of highly-volatile cryptocurrencies have tumbled since hitting all-time highs late last year. Bitcoin was last trading at $43,876.67 on Thursday, about 36% below its peak. (Reporting by Medha Singh in Bengaluru; Editing by Ramakrishnan M.)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BITCOIN (BTC/EUR) 4.13% 30098.9 End-of-day quote.-28.39%
BITCOIN (BTC/USD) 4.15% 31296.1 End-of-day quote.-34.44%
BTCS INC. 16.50% 2.4 Delayed Quote.-23.57%
GAMESTOP CORP. 9.85% 98.39 Delayed Quote.-33.70%
ON SEMICONDUCTOR CORPORATION 6.04% 56.18 Delayed Quote.-17.29%
SILVER -0.73% 21.042 Delayed Quote.-9.57%
All news about BTCS INC.
05/13BTCS INC. Management's Discussion and Analysis of Financial Condition and Results of O..
AQ
05/13BTCS Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
CI
05/11BTCS Adds Axie Infinity to its Blockchain Infrastructure Operations
AQ
04/27BTCS Adds Digital Token Kava to Blockchain Operations
MT
04/27BTCS Adds Kava to its Blockchain Infrastructure Operations
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04/20BTCS Says Polygon Added to Blockchain Infrastructure Operations
MT
04/20BTCS Adds Polygon to its Blockchain Infrastructure Operations
AQ
04/20BTCS Adds Polygon to its Blockchain Infrastructure Operations
CI
04/12BTCS INC. : Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Financial Sta..
AQ
03/31CAPITALGAINSREPORT : Crypto Stocks to Watch as Bitcoin Nears 50K
AQ
More news
Analyst Recommendations on BTCS INC.
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Financials (USD)
Sales 2022 2,00 M - -
Net income 2022 -1,10 M - -
Net Debt 2022 - - -
P/E ratio 2022 -21,8x
Yield 2022 -
Capitalization 30,4 M 30,4 M -
Capi. / Sales 2022 15,2x
Capi. / Sales 2023 9,20x
Nbr of Employees -
Free-Float 59,6%
Chart BTCS INC.
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BTCS Inc. Technical Analysis Chart | BTCS | US05581M4042 | MarketScreener
Technical analysis trends BTCS INC.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 2,40 $
Average target price 6,00 $
Spread / Average Target 150%
EPS Revisions
Managers and Directors
Charles W. Allen Executive Chairman & Chief Executive Officer
Michael Prevoznik Chief Financial Officer
Manish Paranjape Chief Technology Officer
Michal Handerhan Chief Operating Officer, Secretary & Director
David M. Garrity Independent Director
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