Shares of the BTCS Inc. (BTCS) stock were surging in the current market trading session today on January 5, 2022. BTCS stock price saw a push of 44.06% to reach $4.36 a share at the time of this writing. The trading volume on the last check was 5,253,465, far higher than the average trading volume. Let’s take a closer look at this stock to understand the current bullish sentiment.
What’s Happening?
BTCS stock got positive momentum today after the company announced that it will pay the bividend(dividend) to the shareholders in the form of Bitcoin. This announcement makes BTCS Inc the first-ever Nasdaq listed company that will pay the dividend in the form of Bitcoin. The company has referred this form of dividend as a bividend. The company is on a mission to promote the adoption of cryptocurrency and blockchain technology.
How much Dividend?
Shareholders of record date at their election in Bitcoin or cash, of BTCS stock will receive the $0.05 per share in Bitcoin, depending on the Bitcoin price on the ex-dividend date. If you want to know more about the company and its future growth plans, you can visit www.btcs.com, where the company has published the new investor presentation.
New Appointment by BTCS stock:
At the beginning of December 2021, the company announced that it has appointed Michael Prevoznik as Chief Financial Officer of the Company. Mr. Prevoznik served PricewaterhouseCoopers LLP for more than nine years before joining the BTCS. The management is optimistic that this appointment will help in its new phase of corporate development.
Financial view of BTCS stock:
According to third-quarter 2021 financial results, the revenue for the three months ended September 2021 was $0.3 million. The revenue for the first nine months of 2021 was $0.8 million. The gross margin in the recently reported quarter was 81% for the BTCS stock. The company reported a GAAP net loss of $3.8 million in the third quarter of 2021. This loss was $15.5 million in the same tenure of the previous year. By the end of the third quarter, Stockholder’s equity improved to $8.48 million from $7.4 million as of December 31, 2020.
Wrap Up:
Investors are responding positively towards the BTCS stock after the bividend announcement. The recent events and financial results reflect the positive growth of the company. In a nutshell, BTCS stock can be a good bet for investors in the long run.
