BTCS to pay out loyalty in ETH to deter ‘predatory short-sellers’
Bitcoin mining-turned Ethereum firm BTCS Inc said it will be the first public company to issue an Ether dividend.
Ethereum treasury firm BTCS Inc. will issue a one-time Ether dividend payment and a loyalty payment, totaling $0.40 per share in ETH, to reward shareholders and limit “predatory short-selling.”
“These payments are designed to reward our long-term shareholders and empower them to take control of their investment by reducing the ability of their shares to be lent to predatory short-sellers,” the Bitcoin mining-turned Ethereum firm said on Monday.
BTCS says it would be the first publicly traded company to issue a dividend in ETH — a move seemingly received well by investors as BTCS shares rose 10.4% on the day.