BTCS Surges After Announcing Dividend Payment In Bitcoin

(RTTNews) - Shares of blockchain technology-focused company, BTCS Inc. (BTCS) are spiking more than 50% Wednesday morning after announcing dividend payable in Bitcoin.

This is the first-ever dividend payable in Bitcoin by a Nasdaq-listed company, which BTCS refers to as a Bividend.

The company plans to pay $0.05 per share in Bitcoin, based on the Bitcoin price on the ex-dividend date.

Shareholders who do not wish to receive Bividend can opt for cash dividend of $0.05 per share, the company said.

BTCS is at $4.59 currently. It has traded in the range of $1.95- $32.40 in the past 52 weeks.