On Thursday, August 10, 2017, BTCS, Inc (OTCMKTS:BTCS) filed its quarterly 10-Q and simultaneously filed an S-1 to register 47,302,176 shares of its Common Stock for resale by specific shareholders named in the S-1.
Since the filings, BTCS has gained almost 305% over the past few days mostly due to bitcoin closing over $4,000 over the weekend.
However, investors are taking notice of this player in the often confusing space of bitcoin and blockchains.
Shares of BTCS closed at $0.415 after reaching a high of $0.578 earlier today.
Since the beginning of July, BTCS has been steadily on the rise crossing both its 50 Day Moving Average and its 200 Day Moving Average.
BTCS, Inc. (OTCMKTS:BTCS) Company Overview
BTCS, Inc. (OTCMKTS:BTCS) is an early mover in the blockchain and digital currency ecosystems and the first “Pure Play” U.S. public company focused on bitcoin and blockchain technologies.
Blockchains are distributed public ledgers that have the ability to fundamentally impact all industries globally that require trust and rely on or utilize record keeping.
Subject to raising additional financing, BTCS plans to create a portfolio of digital assets including bitcoin and other “protocol tokens”.
BTCS may also acquire digital assets by resuming our transaction verification services business through outsourced data centers and earning rewards in digital assets by securing their respective blockchains.
The company is clearly in a development stage in an industry that’s still defining itself.
Recent BTCS Milestones
BTCS has been in the process of transitioning its business from an initial focus on digital currencies, private investments and bitcoin mining.
It has refined its focus over time to reduce risk and capitalize on disruptive potential of blockchain across all industries.
As bitcoin and blockchains are still not well understood by the general public, BTCS plans to provide potential shareholders exposure to a new and emerging industry by developing and managing a portfolio of digital assets using their expertise in the industry.
Digital assets have a different risk/reward profile than investing in bitcoin directly, but may give investors easier points of entry and a portfolio-based approach.
BTCS Management Team
BTCS is led by a management team with strong capital markets and business strategy experience required to navigate this nascent industry.
Chief Executive Officer, Chief Financial Officer, and Chairman of the Board
- Responsible for overall corporate strategy and direction as well as managing corporate finances
- Extensive experience in business strategy, investment banking, investing and capital markets transactions
- Strong engineering background with experience in the semiconductor field
- B.S. in Mechanical Engineering, Lehigh University, M.B.A. Mason School of Business at the College of William & Mary
Chief Operating Officer, Co-Founder and Director
- Supports business strategy and operations
- Team leader for the National Aeronautics and Space Administration (“NASA”) in their Peer Review Services group and web 2.0 developer at NASA’s Goddard Space Flight Center
- President and CEO of Meesha Media Group, LLC, delivering high-definition videoservices, web development, database management, and social media solutions
- B.S. in Computer Science, Czech Technical University
BTCS’s chart shows it has recently been attracting investor interest.
This is most likely due to the recent rise in the price of bitcoin with investors seeking easier points of entry.
What’s attractive here for BTCS is increasing volume which means that it could have any easier time raising money to fund operations and development of its business plan.
As the world of bitcoin and blockchains is not currently dominated by any one player, BTCS has a clear opportunity to capitalize on its knowledge of the industry and move forward on its plan as long as it can continue to fund operations and demonstrate it is making progress.
Disclosure: We have no position in BTCS and have not been compensated for this article.