Phoenix, Arizona--(Newsfile Corp. - June 2, 2021) - The Stock Day Podcast welcomed BTCS Inc. (OTCQB: BTCS) ("BTCS" or the "Company") an early mover in the blockchain and digital currency ecosystems and the first "Pure Play" U.S. publicly traded company focused on blockchain infrastructure and technology. CEO of the Company, Charles Allen, joined Stock Day host Everett Jolly.
Jolly began the interview by asking about the Company's background and current projects. "We took BTCS public in 2014," shared Allen. "We're focused on blockchain technologies and digital assets and currencies," he continued. "We're the first U.S. public company that's focused on securing proof-of-stake blockchain, such as Ethereum's Beacon chain," said Allen. "We plan to stake Cardano and a few other really disruptive blockchains as well. Our Company's goal is to secure the infrastructure behind disruptive blockchains that we believe Web 3.0 is going to be built on top of."
"What are your thoughts on the real-world applications for this technology?" asked Jolly. "I look at Bitcoin, and specifically Bitcoin's blockchain, as the ledger that secures the record of who owns what, and you can't do a tremendous amount with it beyond being a storer of assets," said Allen. "When I think about where we are going, I really think blockchain technology could be the backbone of Web 3.0," he continued. "What I mean by that is solutions where you can have peer-to-peer transactions and the ability to move digital assets globally without a trusted third-party."
Jolly then commented on the Company's recent shift towards the securement of ethereum's proof-of-stake blockchain. "The security system that Bitcoin's blockchain is based on is called proof-of-work," said Allen, noting that it takes expensive equipment and considerable electricity to secure and validate transactions. "I look at it from the perspective of: What if there is a better system that we can utilize that doesn't use as much electricity? And that is proof-of-stake blockchains."
"We think proof-of-stake blockchains have a very strong space in the market," continued Allen, adding that both Ethereum and Cardano utilize proof-of-stake blockchains. "You can't really build anything on top of Bitcoin's blockchain, but there is a lot that can be built on top of these other disruptive smart contract-based blockchains," he explained. "That is where our focus is, to secure disruptive blockchains and generate revenue by doing that," said Allen. "We think it's a highly scalable business model that very few other public companies are currently focused on."
"Where do you see yourself in the next two to three quarters?" asked Jolly. "We have conservatively stated that we believe we'll do at least one million in revenue for fiscal year 2021," shared Allen. "It's a very high margin business," he added. "We have $4 million in cash on the balance sheet," said Allen, adding that the Company also has an additional $20 million in cryptocurrency as of March 31, 2021. "We think it should be a really good year in terms of growth, both on the revenue side and also in adjusted EBITDA."
"Do you intend to uplist to a major exchange in the near future?" asked Jolly. "We actually applied for a NASDAQ listing last week. At the same time, we filed our 10Q," shared Allen. "I'm very optimistic that we will be able to uplist the Company," he added. "If listed on the NASDAQ the investor universe drastically increases as to who can access our securities, which I think will hopefully translate into creating further shareholder value."
To close the interview, Allen expressed his confidence in the Company's potential as they continue to grow. "BTCS is doing the best it has ever done in seven years. So, I'm super excited for the future and hope that over time the market will realize what we're onto."
To hear Charles Allen's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7879081-btcs-inc-discusses-the-potential-of-its-blockchain-infrastructure-solutions-with-the-stock-day-p
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About BTCS:
BTCS is an early mover in the blockchain and digital currency ecosystems and the first "Pure Play" U.S. publicly traded company focused on blockchain infrastructure and technology. The Company through its blockchain infrastructure operation secures ethereum's proof-of-stake blockchain by actively processing and validating blockchain transactions and is rewarded with digital assets. The Company is developing a proprietary staking-as-a-service platform to allow users to stake and delegate supported cryptocurrencies through a non-custodial platform. The Company is also developing a proprietary digital asset data analytics platform that allows users to consolidate their crypto trades from multiple exchanges onto a single platform, enabling users to view and analyze their performance, risk metrics, and potential tax implications. The Company employs a digital asset treasury strategy with a primary focus on disruptive non-security protocol layer assets such as bitcoin and ethereum. For more information visit: www.btcs.com.
Forward-Looking Statements:
Certain statements in this press release, constitute "forward-looking statements" within the meaning of the federal securities laws including statements regarding our belief regarding opportunities to growth, capitalizing on opportunities to lock in gains as they become available and our position to continue development of our proprietary data analytics platform. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation the rewards and costs associated with validating transactions on proof-of-stake blockchains, the third-party calculators failure to be accurate in its formulas, significant decrease in value of ETH and rewards while locked up, loss or theft of the private withdrawal keys resulting in the complete loss of ETH and reward, as well as risks set forth in the Company's filings with the Securities and Exchange Commission including its Form 10-K for the year ended December 31, 2020. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Investor Relations:
Dave Gentry
RedChip Companies, Inc.
Phone: (407) 491-4498
dave@redchip.com
About The "Stock Day" Podcast
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SOURCE:
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