BTCS Using Bitcoin To Pay Dividends Is The First In The World

Nasdaq-listed cryptocurrency company BTCS (15100.1742, -522.54, -3.34%) on Wednesday announced plans to pay for its shares in Bitcoin, but traders can still choose the currency.

The news helped the company's shares rise nearly 70% at a time and closed 43.89% at $ 4.36.

The move makes BTCS the first Nasdaq company to sign up for Bitcoin and the first global company to pay for Bitcoin. The company calls this distribution “bividend”.

Based on the price of Bitcoin on March 16 ex-dividend day, BTCS will pay 5 cents per share on Bitcoin. Merchants wishing to receive Bitcoin money transfers must choose to register through a transfer agent, transfer their products to a transfer agent, and provide a valid Bitcoin wallet address. Investors who choose not to participate and do not take the required steps will still receive a dividend.