Here’s the Reason of the Decline of BTCS, Inc. (BTCS) Stock in Premarket

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BTCS, Inc. (BTCS) is a publicly-traded firm engaged in utilizing blockchain infrastructure and technology for various operations. An exclusive Staking-as-a-Service program is developed by the Company. The company is also going to develop an online asset data analysis platform for consumers to assess their crypto portfolios.

The price of BTCS stock during the regular trading on January 13, 2022, was $6.88 with a significant incline of 2.69%. At last check in the premarket on January 14, 2022, the stock was down by 5.09%.

BTCS: Events and Happenings

On January 13, 2022, BTCS reported about the addition of Algorand to its infrastructural staking procedures. Asset development and smart contract execution were featured in ALGO’s blockchain. The company earned the revenue via the reward of additional tokens. On January 05, 2022, BTCS reported becoming the pioneer Bitcoin payable dividend company in Nasdaq. The Company refers it as a Bividend. It also gave futuristic insights into its projects.

On November 15, 2021, BTCS reported that the Company acquired the status of the debt-free company. The company paid off a final batch of $1.0 million convertible notes which was issued in January 2021.

BTCS: Key Financials

On November 10, 2021, BTCS reported its financial results for the third quarter ended September 30, 2021. Some of the key updates are as follows.

Assets

Total current assets of the company for Q3 2021 were $4.2 million.

Revenue

Total revenue collected for the third quarter of 2021 was $0.32 million.

Net Loss per Share

Basic and diluted net loss per share for Q3 2021 was $3.8 million or $0.59 per share. The net loss for the same period of 2020 was $1 million or $0.33 per share.

BTCS: CEO Comments

On November 02, 2021, BTCS reported the launch of its revised website. Speaking at the occasion, CEO of BTCS Charles Allen stated that the new website articulates the growth trajectory of the company for its stockholders. He further added that the management is executing the vision of integration of data analytics and SaaS program diligently.

Conclusion

BTCS stock is flying high these days as the company’s stock is notably 46% higher than the six months period. This incline is basically due to the company’s investor-centered strategic policies which are showing the results. The company’s stock declined in the current premarket session due to its announcement regarding the addition of Algorand to infrastructural operations. In short, the company’s stock is in good shape to attract the stockholder’s interest.

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