RATE Group | BTCS: Buying Bitcoin And Ethereum Will Not Help If Share Count Keeps Increasing – BTCS I…
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BTCS: Buying Bitcoin And Ethereum Will Not Help If Share Count Keeps Increasing – BTCS I…

07 Aug BTCS: Buying Bitcoin And Ethereum Will Not Help If Share Count Keeps Increasing – BTCS I…

Posted at 17:03h in Ethereum News by

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Amid stock declines, BTCS Inc. (OTCQB:BTCS) operates an innovative business model consisting of acquiring Bitcoin USD (BTC-USD), Ethereum USD (ETH-USD), and stakes in blockchain companies. The operations do not seem to be the reason behind the value erosion, but the detrimental management of the equity structure. BTCS has recently increased the share count as the shareholders resale stock from the exercise of warrants and convertible stock. In a recent S-1/A filing, BTCS noted approximately 18% further increase in the share count amounting to approximately 432 million shares. The number of shares outstanding seems to be the most important feature to study on this name.

Source: S-1/A filing

Business

Founded in 2013, BTCS Inc. casts itself as one of the first U.S. publicly traded companies to be involved in Digital Assets and blockchain technologies. The business plan of BTCS is explained with the following words in the prospectus:

“Subject to additional financing, the Company…

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