BTCS (NASDAQ:BTCS) says it will pay a dividend in Bitcoin calling it a “Bividend.” The company has created a website called Bividend to explain the distribution. BTCS’s market cap currently stands around $47 million.
BTCS states that it 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 dividend in Bitcoin will receive a cash dividend of $0.05. BTCS will pay the dividend on March 17, 2022 with an ex-dividend date of March 16, 2022.
BTCS CEO Charles Allen commented:
“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. In the crypto space, BTCS has a long history of firsts, including being the first pure-play U.S. public company focused on cryptocurrencies and blockchains, the first U.S. public company to mine Bitcoin, the first U.S. public company to implement a digital asset treasury strategy, and the first U.S. public company to secure next-generation proof-of-stake blockchains.”
Allen added that payment of the special dividend is a step in “showcasing the disruptive nature of blockchain technology.”
The blockchain-focused company explains:
“BTCS has a long history of firsts in the digital asset space, including being the first pure-play U.S. public company focused on cryptocurrencies and blockchains, the first U.S. public company to mine Bitcoin, the first U.S. public company to implement a digital asset treasury strategy, and the first U.S. public company to secure next-generation proof-of-stake blockchains, such as Ethereum’s beacon chain. Now, we plan to be the first NASDAQ-listed public company to pay a Bividend.”