Using Bitcoin to pay dividends, BTCS creates the world's first

BTCS, a cryptocurrency company listed on Nasdaq (15100.1742, -522.54, -3.34%), announced on Wednesday that it plans to pay dividends in Bitcoin, but shareholders can still choose to accept cash dividends.

Driven by this news, the company's stock price soared nearly 70% at one time, and closed up 43.89% to $4.36.

This move makes BTCS the first Nasdaq-listed company to pay dividends in Bitcoin and the world's first listed company to pay dividends in Bitcoin. The company calls this dividend "bividend".

Based on the price of Bitcoin on the ex-dividend date on March 16, BTCS will pay a dividend of 5 cents per share in Bitcoin. Investors who want to receive bitcoin dividends must choose to participate through their transfer agent, transfer their shares to their transfer agent, and provide a valid bitcoin wallet address to receive the dividend. Those shareholders who did not choose to participate and complete the necessary steps will still receive cash dividends.