The company has declared what it is calling a “Bividend” of $0.05 per share which is payable in BTC to all shareholders who opt-in by March 16th 2022. Shareholders who do not select the BTC dividend option will receive US$0.05 in fiat. The BTC amount will be based on the price of bitcoin on the ex-dividend date of March 17th 2022.
The announcement has been well received by investors with BTCS’ share price soaring over 30% following the announcement.
Bitcoin Services Inc. CEO Charles Allen stated following the announcement that:
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.
BTCS share price has seen impressive growth over the last three years as its market cap increased from $1 million in 2019 to $44 million as of yesterday’s market close.
With regards to future bitcoin dividend payments, BTCS stated that it is still assessing whether they will offer this option to shareholders again in the future.
The technical side of the new Bividend feature will be handled by NY-based firm Equity Stock Transfer LLC, which will ensure that the processing of the Bividends runs smoothly.
What is Bitcoin Services Inc?
The platform allows BTCS customers to analyze the data of their cryptocurrency investments easily as well as provide general insight into how their portfolio is performing.
This is possible through the platform’s integration with popular exchanges such as Binance, FTX, and Coinbase, among others.