BTCS Inc (OTCMKTS:BTCS) Proves the Doubters Wrong

BTCS Inc (OTCMKTS:BTCS) Proves the Doubters Wrong

SHARE

BTCS Inc (OTCMKTS:BTCS) took a bump upward to start the week as traders continued to find undervalued cryptocurrency plays across the OTC. BTCS represents an interesting variant in the crypto world as they complete their merger with Blockchain Global (aka BCG). The two are complementary and if BTCS hammers its debt then this deal could be one of the first in the space.

“The blockchain space continues to suffer from a talent void,” commented Charles Allen, CEO of BTCS. “Together with BCG, and their track record of success, we’re positioning ourselves to fill this talent void, ultimately capitalizing on the immense opportunity in blockchain technologies and leveraging our early-mover advantage.”

BTCS Inc (OTCMKTS:BTCS) describes itself as an early mover in the blockchain and digital currency ecosystems and the first “Pure Play” U.S. public company focused on blockchain technologies. BTCS goal is to enable users to engage in the digital currency ecosystem through one point of access – the Company’s universal digital currency platform.

BTCS plans to create a portfolio of digital assets including bitcoin and other “protocol tokens” to provide investors a diversified pure-play exposure to the bitcoin and blockchain industries. BTCS intends to acquire digital assets through: open market purchases, participating in initial digital asset offerings (often referred to as initial coin offerings). Additionally, BTCS may acquire digital assets by resuming our transaction verification services business (often referred to as mining) through outsourced data centers and earning rewards in digital assets by securing their respective blockchains.  BTCS is also keenly focused on growth through acquisition. The blockchain is a decentralized public ledger and has the ability to fundamentally impact all industries on a global basis that rely on or utilize record keeping and require trust.

BTCS operates a beta eCommerceE marketplace. It hosts an online ecommerce marketplace where consumers could purchase merchandise using digital currencies, such as bitcoin, litecoin, and dogecoin. The company was formerly known as Bitcoin Shop, Inc. and changed its name to BTCS Inc. in July 2015. BTCS Inc. was founded in 2013 and is headquartered in Arlington, Virginia.

Find out when $BTCS reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

BCG wholly owns and operates ACX.io, an Australian Bitcoin Exchange and liquidity provider. Leveraging BCG’s asset security, exchange IP, and a proprietary liquidity engine, ACX provides a process to buy and sell bitcoin. Further, through ACX, BCG operates a proprietary arbitrage engine which captures a spread across multiple liquidity pools. BCG currently owns approximately 6 petahash (“PH”) of mining capacity in a purpose-built outsourced facility in China. BCG’s China operation has access to electricity at approximately US$0.04/kwh. BCG also provides blockchain technology advisory services including the preparation and support of crowd-sourced Blockchain token sales and Initial Coin Offerings.

It seems like investors swung back around to BTCS to start the week after being antsy for so long on the company. Shares have underperformed the sector and BTCS is looking to turn the overall momentum of the sector into solid gains to propel this stock through the deal.

Holding a capital value in the market of $27.53M, BTCS has no cash and has worked to handle their debt to ink this deal. It will be interesting to see how this stock plays in December as this deal lingers. We expect some press will come out to keep buyers standing strong. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $BTCS stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

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

Sign Up for our 100% FREE Oracle Dispatch Newsletter