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Blockchain-focused BTCS has become the first Nasdaq-listed company to offer investors a dividend payable in Bitcoin – referred to as a ‘Bividend’.
The development marks the first time a company has offered dividends in the market-leading asset as an alternative to cash payments.
Being the first ‘Pure Play’ US publicly-traded company focused on blockchain technologies, BTCS provides blockchain infrastructure and helps secure proof-of-stake blockchains through the native staking of crypto assets.
It is also currently developing a proprietary ‘staking-as-a-service‘ platform to allow users to stake supported cryptocurrencies through a non-custodial platform.
“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,” said Charles Allen, Chief Executive Officer of BTCS.
“In the crypto space, BTCS has a long history of firsts, including being the first pure-play US public company focused on cryptocurrencies and blockchains, the first US public company to mine Bitcoin and the first US public company to secure next-generation proof-of-stake blockchains.”
Allen also added that, thanks to an improved financial position, now was an “ideal time to reward our shareholders with a non-taxable return-of-capital Bividend”.