Silver Spring, MD, March 02, 2022 (GLOBE NEWSWIRE) -- BTCS Inc. (Nasdaq: BTCS) ("BTCS" or the "Company"), a blockchain technology-focused company, reminds investors that in two weeks it will allocate the first-ever dividend payable in Bitcoin by a Nasdaq-listed company, which the Company refers to as a Bividend. Investors interested in receiving the dividend in Bitcoin should immediately follow the process laid out on www.bividend.com to ensure there is sufficient time to complete the opt-in process.
Dedication to Financial Freedom and Building Blockchain Infrastructure
BTCS has remained dedicated to building out blockchain infrastructure since 2014 as part of its ethos to promote crypto adoption and financial freedom. Continuing on this journey, BTCS introduced the Bividend to open the next chapter of delivering on its mission to further promote the adoption of blockchain technology.
BTCS had the idea for Bividend since February 2015 when it purchased the Bividend.com domain. However, it wasn't until the beginning of 2022 when the Company was trading at a discount to its cash and the fair market value of its crypto holdings that it was an appropriate corporate action.
Investors can refer to the presentation on the Company's website (www.btcs.com) to receive more insight into its operations and plans for future growth.
A Long History of Firsts
In the world of digital assets, BTCS has been the first pure-play U.S. public company focused on blockchain technology and digital assets, the first U.S. public company that mined Bitcoin, the first U.S. public company to introduce a digital asset treasury strategy, and the first U.S. public company to secure second and third-generation proof-of-stake blockchains.
"We want to remind our shareholders that the Bividend record date of March 17, 2022 is approaching in two weeks," said Charles Allen, Chief Executive Officer of BTCS. "Since 2014, BTCS has been dedicated to building out blockchain infrastructure as a means of promoting financial freedom. The Bividend is further proof of our commitment to this emerging industry, and another first-mover innovation for us in what has been a long history of firsts," Allen said.
What is a Bividend?
A Bividend is a dividend that is payable to our shareholders of record at their election in cash or Bitcoin.
How much is the Bividend?
BTCS intends to pay $0.05 per share in Bitcoin, based on Bitcoin's price on the ex-dividend date of March 16, 2022. Investors who do not elect to receive the Bividend in Bitcoin will receive a cash dividend of $0.05 per share.
How do you participate in the Bividend?
The steps required to become a record holder on the books and records of our transfer agent, Equity Stock Transfer, and opt-in to the Bividend are outlined on www.bividend.com and disclosed on a Form 8-K filed with the Securities and Exchange Commission on January 5, 2022. Any shareholders of record who do not opt-in to receive their Bividend will instead receive an equivalent cash dividend. The Company is working with Equity Stock Transfer, LLC, a New York City based SEC-registered transfer agent, to coordinate the logistics and processing of the Bividend.
When will the Bividend be Paid?
We have set a record date of March 17, 2022, to leave ample time for our shareholders to complete the opt-in process by the March 16, 2022 Ex-Dividend date opt-in deadline. The Bividend and cash equivalent dividend for those not electing to receive a Bividend will be paid as soon as practical after the record date.
BTCS is an early mover in the blockchain and digital currency ecosystem, and the first "Pure Play" U.S. publicly traded company focused on blockchain infrastructure and technology. Through its blockchain infrastructure operations, the Company secures Proof-of-Stake blockchains by actively processing and validating blockchain transactions and is rewarded with native digital tokens. The Company is developing a proprietary Staking-as-a-Service platform to allow users to stake and delegate supported cryptocurrencies through a non-custodial platform, which it plans to integrate with its Data Analytics Dashboard, now in beta release. BTCS' proprietary digital asset data analytics platform currently supports six exchanges and over 800 digital assets, and the Company plans to further broaden its suite of performance-tracking tools, add additional centralized and decentralized exchanges, as well as wallets, and stake pool monitoring. For more information visit: www.btcs.com.
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Phone: (407) 491-4498
About Equity Stock Transfer:
Equity Stock Transfer is a New York City based SEC-registered and bonded full-service transfer agent and registrar formed by securities law professionals for publicly traded and private companies. EST provides a full suite of cap table tools and offers proxy management, virtual shareholder meetings and online voting as well as various share depository and paying agent services for domestic and international clients. For over 10 years EST has provided unparalleled personal attention and technology for intelligent automation and customer service. For additional information, please visit us at www.equitystock.com or contact firstname.lastname@example.org.
Certain statements in this press release, constitute "forward-looking statements" within the meaning of the federal securities laws including statements regarding our plans to be the first Nasdaq company to issue a dividend in Bitcoin, plans for future growth and our intentions regarding the Bividend. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation , regulatory and other unanticipated issues which prohibit us from issuing the Bividend to our shareholders, a significant decrease in the value in the crypto that we currently own, another Nasdaq issuer providing for a dividend of Bitcoin prior to our expected payment date, as well as risks set forth in the Company's filings with the Securities and Exchange Commission including its Form 10-K for the year ended December 31, 2020 and the Prospectus Supplement dated September 14, 2021. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
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