In Brief:
- BTCS is offering to pay shareholders a dividend in bitcoin.
- This will be the first-ever Bitcoin dividend paid by a Nasdaq-listed firm.
- BTCS intends to pay $0.05 per share in Bitcoin.
BTCS announced an offer to pay shareholders a dividend in bitcoin. The stock of BTCS Inc. (BTCS), a blockchain technology startup, is up more than 50% after the business announced a Bitcoin dividend. Dubbed a “Bividend” by BTCS this will be the first-ever Bitcoin dividend paid by a Nasdaq-listed firm.
BTCS, a cryptocurrency corporation, witnessed a jump in shares as much as 67 percent on Wednesday after announcing plans to pay a bitcoin dividend to its shareholders. According to CEO Charles Allen, BTCS showcases “the disruptive nature of blockchain technology.”
The company stated that it wants to pay its five-cent “Bividend” in Bitcoin, based on the Bitcoin price on the ex-dividend date of March 16, 2022. BTCS intends to pay $0.05 per share in Bitcoin, based on the Bitcoin price on the ex-dividend date. Investors who do not elect to receive the Bividend in Bitcoin will receive a cash dividend of $0.05.
“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,” Allen said in the statement.
The company has set a record date of March 17, 2022, to leave ample time for the shareholders to complete the opt-in process by the March 16, 2022 Ex-Dividend date opt-in deadline.BTCS is temporarily withholding shares from its tradable float in order to promote cryptocurrency use, grow its shareholder base, reward shareholders, and tighten its float.
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