Bitcoin

Why BTCS Stock Is Skyrocketing Tuesday

What To Know: The blockchain technology firm detailed a sophisticated “DeFi/TradFi Flywheel” approach for the capital raise. BTCS says this hybrid model uniquely blends at-the-market equity sales and convertible debt, with decentralized finance strategies, including borrowing from the Aave protocol.

The company says this method is engineered to maximize the accumulation of Ethereum while seeking to minimize shareholder dilution.

CEO Charles Allen noted the favorable timing of the initiative, stating, "We believe that Ethereum has significant growth potential and is central to the future digital financial infrastructure."

The company's goal is to become the leading publicly traded company focused on Ethereum infrastructure and one of the largest public holders of ETH.

Trading Volume Goes Parabolic: According to data from Benzinga Pro, late Tuesday, BTCS’ trading volume surged to an immense 114.006 million shares, completely dwarfing its 100-day average volume of only 1.235 million shares.

This increase indicates that trading activity was approximately 90 times higher than usual, reflecting a massive spike in investor interest.

Price Action: According to data from Benzinga Pro, BTCS shares are trading higher by 91.7% to $5.38 Tuesday afternoon. The stock has a 52-week high of $6.19 and a 52-week low of $0.96.

Read Also: Want To Join The Top 10% Of XRP Holders? Here’s How Much You Need

How To Buy BTCS Stock

By now you're likely curious about how to participate in the market for BTCS – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

In the case of BTCS, which is trading at $5.55 as of publishing time, $100 would buy you 18.02 shares of stock.

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