Nasdaq-Listed Firm Says It Will Offer the First Bitcoin Dividend

(Bloomberg) -- BTCS Inc., a small Nasdaq-listed blockchain technology-focused company, said it is the first to offer investors the option of receiving a dividend issued in Bitcoin.

The Silver Spring, Maryland-based firm said in a statement Wednesday that investors will have the option to receive a cash dividend of 5 cents a share or the Bitcoin equivalent based on the price on a given date. The “Bividend” will be payable March 17.

Shares of BTCS jumped on the announcement, rising as much as 43% to $4.40 a share. That increased the market capitalization of the company to about $43 million. 

BTCS, which provides portfolio analysis and staking services, said it is evaluating the appropriateness of future Bividends. BTCS Analytics supports seven exchanges and over 800 digital assets that can be synced into personal dashboards.

©2022 Bloomberg L.P.