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BTCS to Commence Trading on NasdaqPress Release | 09/13/2021
Silver Spring, MD, Sept. 13, 2021 (GLOBE NEWSWIRE) -- BTCS Inc. (OTCQB: BTCS) (“BTCS” or the “Company”), a blockchain technology focused company, today announced that The Nasdaq Stock Market LLC has approved the listing of the Company’ common stock on The Nasdaq Capital Market (“Nasdaq”). The Company’s common stock will begin trading on Nasdaq under trading symbol “BTCS” at the open of the market on Tuesday, September 14, 2021.
“Today is a significant milestone in the history and evolution of BTCS,” stated Charles Allen, CEO of BTCS. “We were one of the earliest movers in the blockchain and digital currency ecosystems and the first “Pure Play” U.S. public company focused on digital assets and blockchain technologies. Through our vast experience participating across the blockchain ecosystem since its earliest days, we believe we have refined our strategy to create significant growth in shareholder value. Now with a Nasdaq listing imminent, we are positioned to accelerate the execution of our strategy as we focus on expanding and growing our operations in the burgeoning blockchain space.”
BTCS joins Nasdaq at a time when the digital asset market has reclaimed a total market capitalization of greater than $2 trillion. The Company generated $453 thousand in revenue for the first six months of 2021 and through timely purchases of Bitcoin, Ethereum, and other cryptocurrencies, BTCS has substantially grown its digital assets over the last year. As of June 30, 2021, the FMV of the Company's digital asset holdings increased 2,013% YoY to $21.5 million. As of September 10, 2021, the Company's digital asset holdings had a FMV of approximately $33 million.
BTCS’s listing on Nasdaq comes after several recently announced milestones for the Company, including:
Rapid Expansion of Blockchain Infrastructure Operations – launched proof-of-stake (“PoS”) pools on Ethereum 2.0, Cardano, and Tezos; PoS consensus algorithms are environmentally-friendly alternatives to Proof-of-Work (“PoW”) consensus mechanisms; BTCS’s PoS operations represents a high profit margin component of the Company’s business model. BTCS plans to expand this part of the business by identifying and securing additional disruptive blockchain protocols, along with continuing development of its Staking-as-a-Service (“SaaS”) product offering.
Expanded Board of Directors and Strengthened Management Team - Litecoin founder, Charlie Lee, and attorney and internationally recognized authority on and pioneer in blockchain legal issues, Carol Van Cleef, appointed as independent directors; added Andrew Lee, veteran finance executive and cryptocurrency specialist, as CFO.
Development of Digital Asset Analytics Platform - Initial development of our digital asset data analytics platform is nearing completion with invite-only public beta launch anticipated in the third quarter; expansion of development team expected to further accelerate development of platform and to support additional revenue generating activities.
“In our letter to shareholders dated February 18, 2021, one of our key goals was to position the Company for listing on a senior exchange. I am elated we have achieved this important milestone,” added Michal Handerhan, COO of BTCS. “As we build on our recent successes, we plan to strategically expand our blockchain infrastructure operations to drive further revenue growth.”
“I want to thank our shareholders for their continued support,” added Allen. “We strongly believe in our ability to capitalize on the disruptive and transformative potential of digital assets in the quarters ahead. Like the internet era that came before, which forever changed the way people communicate with each other, blockchain technology is now changing the way we transact with each other, and the opportunity is just getting started – and we are just getting started.”
About BTCS:
BTCS is an early mover in the blockchain and digital currency ecosystem, and the first "Pure Play" U.S. publicly traded company focused on blockchain infrastructure and technology. Through its blockchain infrastructure operations, the Company secures Proof-of-Stake blockchains by actively processing and validating blockchain transactions and is rewarded with native digital tokens. The Company is developing a proprietary Staking-as-a-Service platform to allow users to stake and delegate supported cryptocurrencies through a non-custodial platform. The Company is also developing a proprietary digital asset data analytics platform that allows users to consolidate their crypto trades from multiple exchanges onto a single platform, enabling users to view and analyze their performance, risk metrics, and potential tax implications. The Company employs a digital asset treasury strategy with a primary focus on disruptive non-security protocol layer assets. For more information visit: www.btcs.com.
Forward-Looking Statements:
Certain statements in this press release, constitute "forward-looking statements" within the meaning of the federal securities laws including statements regarding our growth in shareholder value, revenue growth, and our ability to capitalize on the potential for digital assets. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation the rewards and costs associated with validating transactions on proof-of-stake blockchains, significant decrease in value of our digital assets and rewards while locked up, loss or theft of the private withdrawal keys resulting in the complete loss of digital assets and reward, as well as risks set forth in the Company's filings with the Securities and Exchange Commission including its Form 10-K for the year ended December 31, 2020. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Investor Relations:
Dave Gentry
RedChip Companies, Inc.
Phone: (407) 491-4498
dave@redchip.com
https://www.otcmarkets.com/stock/BTCS/news/BTCS-to-Commence-Trading-on-Nasdaq?id=320549
Charlie Lee who is a founder of Lite coin is on the board as a director. It sounds more trustable.
Yes, many say they will up-list after the reverse split but very few actually do.
This is one of very a few company up listed to Nasdaq from OTC by reverse split. I hope they do very well. So far, it looks great.
I wonder when we see activity on it in our portfolio. 2 weeks?
BTCS moved to the Nasdaq from the OTC:
https://otce.finra.org/otce/dailyList?viewType=Deletions
BTCS Reverse Split History attached
Yep, my thoughts exactly. Reverse splits rarely work to the benefit of investors.
Uplisting that lasts how long? What happens when this keeps going down until they are below the threshold again?? What income do they have to support a steady or rising share price?
Phase 1: Collect underpants
Phase 2: (????? DUNNO!)
Phase 3: PROFIT!!!!
The times that I have seen a reverse split it when they did it to raise the share price enough to do an up-listing.
I believe you. I probably have been hit by more than one of those and just don't recall the previous one. Bad management.
He is completely correct. I have been on here since 2015. I have probably gone through four reverse splits. Maybe, five! I use to believe this company was the future and researched it also. I could’ve probably made some money when it got pumped up a few times, but held out for a little more money and it dropped quickly. Then we would get a reverse split sometime around that time later after it dumped hard. Check the full history of this company out and you’ll see I’m right about the reverse splits. It happens when you’re in the pinks. But you should be advised. And hang on I’m sure there’s many more to come.
I am confused how you ended up with 1 share when you had 25,000 shares and I believe it was a 1/10 reverse split. Shouldn't you have 2500 shares? I do agree that the reverse split is likely a bad idea. I have never seen it work out in the shareholders favor. If they did a better job of running the company then they would not have to do a RS. If the company was making money then they should be able to start a share buyback that would likely increase the share value in a more real way.
ME TOO. PATHETIC!!
But that one share is worth a lot more than it was back in 2013, right?
Just to update BTCS recent reverse split has left me now with one lousy share! I originally purchased 25,000 shares in 2013 back when Bitcoin was selling for $222 and is now at $50K and BTCS genius CEO cannot figure out a way to generate any revenue so he steals from the shareholders. Pathetic. One Share!
Bitcoin back to $49,923 as we speak. $50k tomorrow?
Bitcoin shop still around?
This scam.
I appreciate the response. Thank you.
Blue Sky Breakout bout to happen here! Knocking on the door today!
I have heard it can be, but mostly what I have seen happen is that the uplist fails for other reasons and the stock price drops like a rock. Hopefully this will be the exception.
BTCSD...$5.25...post split...Silver Spring, MD, Aug. 17, 2021 (GLOBE NEWSWIRE) -- BTCS Inc. (OTCQB: BTCS) (“BTCS” or the “Company”), a blockchain technology focused company, today announced that the Company has implemented a reverse split of its issued and outstanding common stock at a ratio of 1-for-10 shares.
The reverse split is intended to enable the Company to meet the stock price requirement for initial listing on The Nasdaq Capital Market.
The Company's common stock will begin trading on a split-adjusted basis on the OTCQB under the trading symbol “BTCSD” today. The fifth character “D” will be removed from the Company’s trading symbol after 20 business days if the stock is still trading on the OTCQB, or upon the listing of the Company’s common stock on Nasdaq, whichever occurs first. At that time, the Company’s trading symbol will revert to “BTCS”...
Once we actually see the uplisting I think we may see a boost in the share price.
The reverse split is to uplist BTCSD to the NASDAQ. Isn't that a positive thing? Unless I'm missing something.
To tell the truth I am not a big fan of Bitcoin. I see it as similar to a pyramid scheme, but even so I have invested in it. I like BTCS because it is diversified between blockchain and crypto. The crypto that I see having the most longevity are the stable coins backed by solid assets like gold and silver. Just my opinion, but I have been wrong so far in regards to bitcoin so no one should listen to me. The reverse-split is a bad idea. If they want to raise the PPS then they should have started a well publicized share buyback.
Screwed me too. My fault for not paying attention.
Maybe bitcoin rise will lift this sinking ship.
Found out E*TRADE is waiting for actual new shares (BTCSD) to be issued. Hamstrung until then.
I see the R/S is having the typical effect. I have heard that there have been times when it has been beneficial, but it has never helped mine.
Maybe this will turn into the next RIO#. Which I foolishly sold under a dollar for a small gain some time ago.
My shares are still sitting idle at E*TRADE. Anyone know why they haven’t converted yet ?
When I first bought BTCS back in 2017, they were involved in Bitcoin and actually mined Bitcoin. Since then, they no longer mine but exclusively deal in blockchain and are heavily invested in computer software that deals with blockchain. Ethereum is such a blockchain-based software platform. They are staking ethereum and ADA Cardano (smart contracts), which are very promising.
I have confidence in Ethereum and Cardano, and beleive this new approach will work. I've noticed that Ethereum and Cardano have been taking off and running on their own legs of late - and not necessarily following Bitcoin.
Next few months should be interesting.
Continued luck to those going long!
It was lower several times today but each time it bounced back again.
Yes but not a lot of people had a chance to buy or sell, once they do, very likely it will drop.
That's really not that bad considering the RS news and the down day in the markets today.
Etrade has Btcsd at closing at $6.36 on there snapshot.
Nothing on trade board
Day range 5.00-7.00
Bid 5.15 ask 6.59
100 shares
vol 20853
Well, can kiss that money away I guess.
My Fidelity account shows BTCSD down 7.7% with 3945 shares traded.
TD Ameritrade doesn't show it trading under BTCS or BTCSD.
Not sure what you are getting at?
Up-Listing to Nasdaq. https://finance.yahoo.com/news/btcs-announces-reverse-stock-split-123100643.html
Do you see it trading this morning?
I never have seen a reverse split that worked out well for investors. The share price always ends up going back down after the split.
Perhaps the RS is to allow for a stock up-listing.
BTCS: effective Aug. 17,2021 a one for 10 reverse split:
https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
Wish I had the dry powder to buy more along with you
GLTU
going buy 5000 shares see how this plays out
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BLOCKCHAIN POTENTIAL APPLICATIONS AND DISRUPTION:
Just a few of the media conglomerates who have featured $BTCS in a story:
Washington Post:
https://www.washingtonpost.com/business/on-it/silver-spring-start-up-targets-bitcoin-buyers/2014/03/07/52760478-a558-11e3-84d4-e59b1709222c_story.html
Bloomberg:
https://www.bloomberg.com/news/videos/b/d29dc63c-5e6e-4ff7-ab4f-6bf91846a917
USAToday:
https://www.usatoday.com/story/news/nation/2013/12/10/bitcoin-entrepreneurs-seek-mainstream-acceptance/3971121/
CNBC:
https://www.cnbc.com/video/2014/02/10/bitcoin-shop-ceo-reverse-merger-most-sensible-choice.html
WallStreet Journal:
https://www.wsj.com/articles/bitcoin-shop-to-trade-publicly-over-the-counter-1391726743?KEYWORDS=bitcoin&tesla=y
Kaltura:
http://cfvod.kaltura.com/pd/p/1679301/sp/167930100/serveFlavor/entryId/1_gs2pq3kz/v/1/flavorId/1_i7hvrk8o/name/a.mp4
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