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BTCS company plans to raise 2 billion USD, has held 265 million USD ETH
The blockchain technology company BTCS Inc. has just filed with the SEC, announcing plans to sell shares worth up to 2 billion USD to fund future acquisitions of digital assets.
According to the S-3 registration statement, BTCS will issue common stock in multiple tranches while planning to sell over 5 million shares from existing convertible bonds and stock purchase warrants. The company estimates to raise approximately 12 million USD from exercising these purchase rights.
BTCS is currently a company focused on Ethereum, following the "DeFi/TradFi rotation" strategy, combining staking, block building, and leveraging the capital market to accumulate ETH and generate profits. Recently, the company acquired an additional 14,240 ETH, bringing the total holdings to 70,028 ETH, valued at approximately 265.3 million USD.
BTCS stock fell 2.13%, closing on Tuesday at 5.05 USD. The company is joining the group of enterprises accumulating Ethereum as a strategic asset, alongside SharpLink Gaming and Bit Digital.