Blockchain company BTCS rises as retailers seize bitcoin currency

Shares of BTCS Inc, a blockchain-focused company, rallied on Thursday and will continue the four-day rally as more investors buy shares in the company after the company received a Bitcoin split last week.

Maryland-based Silver Spring paid Bitcoin subscribers $0.05 per share on Jan. 5, and the stock has more than doubled since then. The first Bitcoin currency split (called “dividends” by BTCS) ended on March 16.

BTCS shares jumped 20% in early trading on Thursday, sparking the 'meme stock' craze from last year, hitting a one-week high of $7.80 on forums such as Reddit and stocktwits. com.

Almost 9 million BTCS shares traded in the first few minutes of trading, more than double the company's public offering of 4.2 million shares. A small amount of raw materials does not limit the prices of raw materials to rapid change.

"This is the time we've been waiting for since the company acquired the bividend.com brand in February 2015," CEO Charles Allen said in a statement Wednesday.

With recent revenue of $ 69 million, BTCS would be the first company to go public on NASDAQ to pay for shares in Bitcoin. Shares of video game retailer GameStop rose 22% on Friday as it plans to build a unit to develop a non-fungible token (NFT).

Meanwhile, the value of cryptocurrencies has fallen after hitting historic highs last year. Bitcoin traded at $ 42,579.80 on Thursday, around 36% below its all-time high.