BTCS plans to sell $2 billion worth of stock to purchase virtual assets

YM Lee

Summary

BTCS announced its plan to pursue virtual asset purchases through the sale of $2 billion worth of stock.
The stock sale is expected to be carried out via a public offering.
BTCS stated that the funds raised from the stock sale will be used for purchasing digital assets and working capital.

BTCS, well known as a strategic Ethereum (ETH) reserve company, has revealed plans to sell approximately $2 billion worth of stock to purchase virtual assets (cryptocurrencies).

On the 30th (local time), The Block quoted U.S. Securities and Exchange Commission S-3 registration statement documents, reporting: “BTCS plans to conduct a public offering to sell up to $2 billion in common stock in order to purchase virtual assets.”

In its submitted documents, BTCS explained, “We plan to use the net proceeds from the securities sale as additional funds for purchasing digital assets, working capital, and other general corporate purposes.”

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