BTCS Inc. (BTCS), a NASDAQ-listed crypto strategy company focused on Ethereum, will distribute its first ether (ETH) dividend to shareholders, the company said Monday.
The one-off payment, known as “Bididend,” is $0.05 per share, and can be received in ETH or cash, the company said in its release. Eligible shareholders must opt-in by September 26th, the date of their payout recording.
BTCS has moved its holdings to book entry along with the company’s transfer agent and offers a “loyalty payment” of $0.35 per share of ETH to shareholders who are keeping them there until January 26, 2026.
The step will make it difficult to borrow stocks for short sales, as the company aims to reward long-term investors and block short sales. Short selling bets on a decline in stock prices, revolving around sales of borrowed stocks and subsequent repurchases.
“By rewarding shareholders who own our transfer agents, we will block predatory short sellers, reduce operations and build stronger bases,” CEO Charles Allen said in the X-Post. “Short sellers are betting that we will dilute. Our loyalty program will fight back.”
He noted the company’s balance sheet value and balance sheet value of approximately $6.65 per share of cash holdings, as well as the market price of the stock and the cutoff of less than $5.
BTCS rose 7% early in the session to $4.71, with other digital asset financing companies like Bitmine (BMNR) and Sharplink (SBET) down.
BTCS pivoted into an ether-centric digital asset strategy in 2021 well before recent companies came onto the market. According to the company’s website, it owns more than 70,000 ETH as of August 12th, and is currently worth around $300 million.
Read more: Bitmine Immersion’s Ether Holdings Top $6.6b Billion, Slide 7% with Stock Slides ETH Tumble
