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Tuesday, August 3, 2021

Digital Asset Portfolio; the Rise of BTCS Inc(OTCMKTS:BTCS)

BTCS Inc(OTCMKTS:BTCS) is heating up in recent weeks as bitcoin once again is on the move northbound. BTCS as well as all bitcoin related stocks have been hot in recent weeks as BTC has once again surpassed the $13k mark and continues to move higher daily.

BTCS has a long history of volatility between a dime and $0.40 exploding to $0.578 in August. The Company owns a digital asset position valued at more than $1 million. Through timely purchases of Bitcoin and Ethereum, BTCS has substantially grown its digital asset portfolio over the past 12-months. The Company currently holds 54.3 bitcoins and 2,304 Ethereum.

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. The Company is also seeking to acquire controlling interests in businesses in the blockchain industry. BTCS operates the websites  btrcs.com.

According to the Company:  “We Are Building A Universal Digital Currency Platform. Our goal is to enable users to engage in the digital currency ecosystem through one point of access – our universal digital currency platform. Bitcoin Shop, Inc. (“BTCS”) is an early mover in the digital currency ecosystem and one of the first U.S. publicly traded companies in the space. As a firm believer in the blockchain technology, we offer various solutions including Bitcoin Shop – our ecommerce store which accepts a variety of digital currencies, BTCS Wallet – our secure storage solution and more. We deliver each solution by leveraging innovative technologies. We also leverage the services offered by our strategic partners. To date we have made investments in and partnered with 4 key digital currency companies including: GoCoin, Gem, Expresscoin, and Coin Outlet.”

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BTCS

Earlier this year BTCS said it is expanding its business model with the development of a consumer-facing digital-asset data analytics platform that enables users to connect multiple digital asset exchanges and wallets to aggregate portfolio holdings into a single seamless platform to view and analyse performance, risk metrics, and potential tax implications. The initial beta launch of the platform is expected in the second half of 2020.

BTCS has been expanding its digital asset position to more than $1 million in the second quarter ended June 30, 2020, an increase of more than 130% from the prior quarter.   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 12-months. The Company currently holds 54.3 bitcoins and 2,304 Etherium. nThe fair market value of the Company’s digital asset position increased 285% to $1.02 million in the second quarter of 2020, primarily from the additional purchases of digital assets.

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 80% from its March 2020 low, which the Company believes is driven by a flight to safety during the ongoing COVID-19 pandemic as well as the recent bitcoin halving on May 11, 2020.

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Currently on the move northbound BTCS is an exciting story developing in small caps; the stock is heating up in recent weeks as bitcoin once again is on the move northbound. BTCS as well as all bitcoin related stocks have been hot in recent weeks as BTC has once again surpassed the $13k mark and continues to move higher daily. BTCS has a long history of volatility between a dime and $0.40 exploding to $0.578 in August. The Company owns a digital asset position valued at more than $1 million. Through timely purchases of Bitcoin and Ethereum, BTCS has substantially grown its digital asset portfolio over the past 12-months. The Company currently holds 54.3 bitcoins and 2,304 Ethereum. We will be updating on BTCS when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with BTCS.

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Disclosure: we hold no position in BTCS either long or short and we have not been compensated for this article.

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