Crypto Firm BTCS Soars 41% After Announcing First-Ever Bitcoin Dividend | Currency News | Financial and business news

  • Crypto firm BTCS climbed 41% on Wednesday after announcing it would pay a dividend in bitcoin.
  • Dubbed a “bividend,” BTCS plans to pay a dividend of 5 cents to its shareholders in bitcoin if they agree to it.
  • The company said paying a bitcoin dividend would help promote crypto adoption and strengthen its shareholder base.
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Crypto firm BTCS climbed 41% on Wednesday after he announced his intention to pay a dividend in bitcoin to its shareholders.

The move makes it the first Nasdaq-listed company to pay a bitcoin dividend, which the company calls a “bividend”. BTCS is set to promote cryptocurrency adoption, strengthen its shareholder base, reward shareholders, and tighten its float by temporarily removing shares from its tradable float.

BTCS will pay a dividend of 5 cents per bitcoin share, based on the price of the cryptocurrency on the ex-dividend date of March 16. Investors who wish to receive the dividend in bitcoin must register through its transfer agent, move their shares to its transfer agent, and provide a valid Bitcoin wallet address to receive the dividend.

Shareholders who do not opt ​​and do not take the necessary steps will instead receive the dividend in cash.

Crypto payment has been on BTCS ‘long-term roadmap for years, based on its purchase of the domain name in February 2015.

“With BTCS’s stock price at the end of 2021 of $ 3.14 per share, which represents a 12.6% discount on the company’s digital holdings and a cash position of 3. , $ 56 per share, or $ 37.8 million, this is the perfect time to reward our shareholders with a non-repayment of Bividend taxable capital, ”the company said.

The BTCS share price hit a high of $ 4.28 on Wednesday.

BTCS stock chart

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