Whenever the mention of “BitCoin” comes up, the names that immediately become associated with the subject are the Winklevoss Brothers, Cameron and Tyler, as well as Adam Draper, the branded “pioneers” of the crypto-currency. What many are missing out on is Charles Allen who, as inventive as the coin itself, launched the first (and only) publicly traded company using the key word: Bitcoin Shop Inc. (BTCS). With a full year under their belt and the industry of the virtual currency still in it’s infancy stage, penny stock traders are surely reaping the benefits this year from BTCS stock.
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BTCS Stock Quote
| Close | 0.154 | Change (% Chg) | +0.0385 (+33.33%) |
| High | 0.178 | Low | 0.12 |
| Open | 0.1275 | Prev Close | 0.1155 |
| Volume | 2,512,744 | Avg Volume | 1,046,300 |
| 14-Day Rel Strength | 68.34% | Market Cap | $21.63M |
| 52Wk High | 5.26 | 52Wk Low | 0.0555 |
Bitcoin Shop, now a year old as a publicly traded company, still owns the title as the only listed company with the SEC to have the word “BitCoin” in its registered name. Offering over 2,000,000 items from 85 retailers whereby the Company takes a cut when they convert the Digital Currencies received from its customers as payment, to an amount of USD that are needed to remit payments to third party vendors that ultimately fulfill the orders, the fact that they have any revenues at all for the year ended December 31, 2014 should be proof enough of how real this really could be.
News which hit some websites yesterday of how payments platform Adyen has integrated with the world’s leading bitcoin payment processor BitPay, opening up the possibility for Facebook, Spotify, Ryanair and thousands of other merchants using Adyen to accept bitcoin should shed some light on just how real this new form of money could really become. Over 3,500 merchants around the world use Adyen to process transactions, including four of the five largest US internet companies.
A little more than a week ago, Bitcoin Shop purchased one hundred Spondoolies S35 digital currency mining servers from Spondoolies Tech Ltd. for $223,500. Rather than wasting time to understand what a Spondoolie is, glancing over the recent investor presentation the Company uploaded to the SEC website would be time better spent. It will be interesting to see how many spot the indication that BTCS will uplist to the Nasdaq or NYSE by December 31, 2016 (it’s on page 20).
You can see the founder/CEO/CFO of BitCoin Shop, Charles Allen, giving his 2 cents about the future of the crypto-currency here from his July, 2014 inclusion in the Bloomberg “Street Smart” interview. Better yet, you can get a full breakdown, albeit it’s from a year ago, for a basic “BitCoin For Dummies” view as to why BTCS stock is worth it’s weight in BitCoin from this “Stock Talk” interview :
Charles just filed an updated Form 4 with the SEC to report his acquiring of another 11,540 shares of BTCS stock at $0.13, bringing his total share holdings to 42,530,022. Company COO, Michal Handerhan, has increased his holdings to 29,153,612.
The “pros” for BTCS are the prospect of this crypto-currency becoming as real as the ATM machine idea back in the 80’s and the strength of the Company’s balance sheet which, as of September 30, 2014, had just $131,610 in accounts payable and accrued expanses for total liabilities. The “cons” are the acceptance of the role BTCS plays in the merchant market and how last year was the time to really get in when shares were well under 0.10.
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About BTCS Stock
Bitcoin Shop, Inc. (formerly TouchIt Technologies, Inc.), through its wholly-owned subsidiary Bitcoinshop.us LLC, is in the business of developing, marketing and operating an e-commerce website, which offers its users an online marketplace for transacting business in digital currencies, including Bitcoins, Litecoins and Dogecoins. The Company is also in the business of mining Digital Currencies specifically Bitcoin.
Click here to view the SEC filings for BTCS.
Click here to view the website for BitCoin Shop.
Authorized: 975,000,000
Issued and Outstanding: 144,767,235
Last 5 Trading Sessions:
| Date | Open | High | Low | Last | Change | % Chg | Volume |
| 02/03/15 | 0.1275 | 0.1780 | 0.1200 | 0.1540 | +0.0385 | +33.33% | 2,512,700 |
| 02/02/15 | 0.1350 | 0.1390 | 0.1130 | 0.1155 | -0.0095 | -7.60% | 738,000 |
| 01/30/15 | 0.1380 | 0.1395 | 0.1120 | 0.1250 | -0.0090 | -6.72% | 1,054,400 |
| 01/29/15 | 0.1591 | 0.1660 | 0.1140 | 0.1340 | -0.0250 | -15.72% | 2,373,400 |
| 01/28/15 | 0.1380 | 0.2150 | 0.1150 | 0.1590 | +0.0500 | +45.87% | 6,452,500 |
Bottom Line:
BTCS shares are up 94% since the start of 2015, the majority of which has come during the last 5 trading sessions. Although going long on penny stocks traded on the OTC has not really worked out for too many in the past, BTCS stock has some significant upside to it. Taking note that there was the entire 2nd half of 2014 whereby any trader could have bought in at levels lower than where the shares closed on Tuesday, as seen with the 50 and 200 Day MA, 0.0899 and 0.1225, respectively, the scene could be set for the “legitimate run” the ticker needs ahead of their annual report filing.
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