The Spectacular Rise of BTCS Inc (OTCMKTS: BTCS)

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BTCS Inc (OTCMKTS: BTCS) has skyrocketed up the charts in recent weeks as bitcoin has come alive and embarked on an epic run northbound recently surpassing $35,000 per coin. BTCS has recently traded as high as $3.24 per share and topped $20 million in daily dollar volume.

At the end of the most recent quarter BTCS held 14.9 btc, 584.7 Ethereum. The Fair Market Value of the Company’s digital asset position increased 1,327% to $3.9 million in 12-months ended December 31, 2020. The table below, based on year-end prices of $29,325 per BTC and $739 per ETH which have increased well over 30% since than making BTC stake in digital currencies worth well over $5 million.

BTCS Inc (OTCMKTS: BTCS) is one of the first U.S. publicly traded companies focused on digital assets and blockchain technologies. BTCS plans to acquire additional Digital Assets to provide investors with indirect ownership of Digital Assets that are not securities, such as bitcoin and ether. We intend to acquire Digital Assets through open market purchases. We are not limiting our assets to a single type of Digital Asset and may purchase a variety of Digital Assets that appear to benefit our shareholders, subject to the limitations of the Investment Company Act of 1940. We are also internally developing a digital asset data analytics platform and seeking to acquire controlling interests in businesses in the blockchain industry.

On January 11 BTCS announced a 1,327% Year-Over-Year Gain in Digital Assets. Establishing positions in key digital assets is a core part of the Company’s business plan.  Through timely purchases of Bitcoin and Ethereum, BTCS has substantially grown its digital asset portfolio over the past 18-months. The table below summarizes the Company’s Digital Asset growth over the last six quarters.

At the end of the most recent quarter BTCS held 14.9 btc, 584.7 Ethereum. The Fair Market Value of the Company’s digital asset position increased 1,327% to $3.9 million in 12-months ended December 31, 2020. The table below, based on year-end prices of $29,325 per BTC and $739 per ETH, summarizes the Fair Market Value of the Company’s Digital Assets over the past six quarters:

The Company believes Bitcoin, Ethereum, and certain other digital assets are a great store of value and can be an effective hedge against monetary debasement in the wake of multi-trillion-dollar economic bailouts. Bitcoin has rallied over 700% from its March 2020 low, which the Company believes is driven by institutional interest in digital assets, PayPal allowing its customers to buy and sell bitcoin through their platform, and a flight to safety during the ongoing COVID-19 pandemic and political turmoil. On January 8, 2021, the Company’s digital asset portfolio had a Fair Market Value of approximately $7 million, which includes $800,000 worth of digital assets purchased with the proceeds of management’s recent $1.1 million investment.

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BTCS

While the Company continues to believe Bitcoin and Ethereum are a great store of value, going forward, it plans to utilize its industry experience to further expand the Company’s Digital Asset holdings to diversify risk as it continues to grow its business.  BTCS also plans to avoid digital assets which it believes may be classified as digital securities. Digital Assets, which are not securities such as Bitcoin and Ethereum, are non-productive indefinite life intangible assets according to U.S. GAAP.  Therefore, the Company anticipates that the carrying value of our Digital Assets on our balance sheet for the year ended 2020 will be approximately $1 million. Digital assets are carried on our balance sheet at the lowest price they have been since the date of purchase.

“Our original thesis that has guided our operating decisions across the years has proven very prescient over the past 12 months,” stated Charles Allen, CEO of BTCS. “While we are pleased with the strong gains of 2020, management believes the best is ahead for BTCS and recently backed this belief by investing $1.1 million into the Company, representing a substantial financial commitment. We want to thank our shareholders for their continued support and look forward to sharing more of our successes with you in 2021 and beyond.

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BTCS has skyrocketed up the charts in recent weeks as bitcoin has come alive and embarked on an epic run northbound recently surpassing $35,000 per coin. BTCS has recently traded as high as $3.24 per share and topped $20 million in daily dollar volume. At the end of the most recent quarter BTCS held 14.9 btc, 584.7 Ethereum. The Fair Market Value of the Company’s digital asset position increased 1,327% to $3.9 million in 12-months ended December 31, 2020. The table below, based on year-end prices of $29,325 per BTC and $739 per ETH which have increased well over 30% since than making BTC stake in digital currencies worth well over $5 million. For the inside story on BTCS subscribe right now

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