Blockchain Firm BTCS to Offer Dividend in Bitcoin; Shares Surge

Investors who choose not to receive the so-called “bividend” will receive a regular cash payout.

AccessTimeIconJan 5, 2022 at 3:00 p.m. UTC
Updated May 11, 2023 at 5:49 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Blockchain technology company BTCS is offering to pay shareholders a dividend in bitcoin to showcase “the disruptive nature of blockchain technology,” according to CEO Charles Allen.

Investors can opt to receive the 5 cents-a-share dividend in bitcoin, the company said in a filing Wednesday. Otherwise they will receive the payout in cash.

  • Degen Chain Racks up Millions in Volumes; Latest in Custodia Bank's Legal Battle Against the Fed
    02:06
    Degen Chain Racks up Millions in Volumes; Latest in Custodia Bank's Legal Battle Against the Fed
  • How Can AI and Blockchain Change the Music Industry?
    16:58
    How Can AI and Blockchain Change the Music Industry?
  • AI Will Make Music 'Come Alive Again,' CreateSafe CEO Says
    00:39
    AI Will Make Music 'Come Alive Again,' CreateSafe CEO Says
  • A Look Back: Blockchain Technology in 2023
    00:54
    A Look Back: Blockchain Technology in 2023
  • The company said it’s the first Nasdaq-listed firm where shareholders have the option to receive a dividend with bitcoin. By paying in bitcoin, the company said it hopes to promote the adoption of crypto and blockchain technology. The move has been planned for a while, BTCS bought the bividend.com domain name in 2015.

    “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’s shares, which started trading in September, jumped about 40% Wednesday, taking its market capitalization to about $43 million.

    While the current payout is a one-off, BTCS said it is still evaluating whether to continue the program.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Author placeholder image

    Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.



    Read more about