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Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: VeryWellDone on March 12, 2021, 08:16:05 AM

Title: First U.S. public company to mine BTC staked $5m in ETH 2.0 as digital asset tre
Post by: VeryWellDone on March 12, 2021, 08:16:05 AM
An early pioneer in blockchain technology, BTCS in 2014 was the first U.S. public company to mine bitcoin. Then, in 2017, BTCS created a first of its kind digital asset treasury strategy which is now being widely employed by companies such as Tesla, Square, and MicroStrategy. Now, BTCS is the first U.S. public company to run validator nodes on ethereum 2.0. We see this strategy as driving strong near-term revenue growth with the added benefit of being more profitable than traditional bitcoin mining while also enabling additional future revenue-generating services. 

“Over seven years as a public company, BTCS has been on the cutting edge of the blockchain technology sector,” said Charles Allen, Chief Executive Officer of BTCS. “Now we have a balance sheet with over $2.8 million in cash and approximately $9 million in crypto-currencies to execute on our vision.”

“Our transaction verification services operation should drive strong near-term revenue growth,” continued Allen. “We believe in the future of ‘smart-crypto’ and see ethereum, which is transitioning to a proof-of-stake consensus algorithm, as the flagship of smart-crypto blockchains. Less resource intensive than proof-of-work verification services, proof-of-stake validation provides attractive economics. Our goal is to build a growing network of BTCS actively operated validators, ultimately positioning us to offer additional services in the future.”

IMO, I'm glad that the time has finally come where institutions and publicly traded companies are already seeing crypto (mainly BTC & ETH) as a digital asset treasury and a better way to put their cash reserves.

Source (http://www.globenewswire.com/news-release/2021/03/01/2184392/0/en/BTCS-Drives-Near-Term-Revenue-Growth-by-Expanding-its-Ethereum-2-0-Staking-Operation-to-100-Nodes.html)

Is this a smart move by these companies or is it better to store them in other less-volatile assets?
Title: Re: First U.S. public company to mine BTC staked $5m in ETH 2.0 as digital asset tre
Post by: Rollinginthedeep on March 12, 2021, 08:45:51 AM
This was just a dream by the crypto community many years ago and we're finally seeing it now. These big companies putting their cash reserves into cryptocurrencies are definitely driving FOMO to the masses