Blockchain know-how firm BTCS is providing to pay shareholders a dividend in bitcoin to showcase “the disruptive nature of blockchain know-how,” in response to CEO Charles Allen.
Buyers can decide to obtain the 5 cent-a-share dividend in bitcoin, the corporate stated in a filing Wednesday. In any other case they are going to obtain the payout in money.
The corporate stated it’s the primary Nasdaq-listed agency the place shareholders have the choice to obtain a dividend with bitcoin. By paying in bitcoin, the corporate stated it hopes to advertise the adoption of crypto and blockchain know-how. The transfer has been deliberate for some time, BTCS purchased the bividend.com area title in 2015.
“We need to reward our long-time shareholders for his or her continued assist and encourage monetary freedom by offering the means to allow direct possession of bitcoin and different digital belongings,” Allen stated within the assertion.
The corporate’s shares, which started trading in September, jumped about 40% Wednesday, taking its market capitalization to about $43 million.
Whereas the present payout is a one-off, BTCS stated it’s nonetheless evaluating whether or not to proceed this system.
