Frequently Asked Questions

U.S. public companies such as BTCS are required to prepare and report their financial statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”).  Under U.S. GAAP, non-security digital assets such as bitcoin and ethereum are indefinite life intangible assets and carried at their lowest value since date of acquisition by BTCS.  A more detailed description of our digital asset accounting policies can be found in Note 4 to our most recent annual report. Additionally, PWC’s March 2018 point of view position publication provides an excellent digital asset accounting analysis.

 

U.S. GAAP is a rule-based accounting regime and while it is possible to fit digital assets into the existing accounting model for intangible assets, this model does not best reflect the economics of these unique assets. As such, the reported value of our digital assets on our balance sheet is significantly less than their fair market value (“FMV”) and cannot be increased under U.S. GAAP despite increasing digital asset prices.

 

Given the material discrepancy in value, we have disclosed, and will continue to disclose, the FMV of our digital assets in the MD&A section of our financial reports. Further, on August 28, 2018 in, a response to a SEC registration statement comment letter we urged the SEC to coordinate with the Financial Accounting Standards Board to further revise the accounting guidelines to provide for an updated accounting framework for digital assets.

BTCS year end is December 31st, with quarters ending on March 31st, June 30th, and September 30th.

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BTCS has engaged RBSM LLP as its independent registered accounting firm for its fiscal year ending December 31, 2020.

As of October 14, 2021, there were approximately 10.21 million shares of common stock issued and outstanding, 0.96 million warrants to purchase common stock, and 1.28 million stock options and restricted stock units.  The foregoing description of our capitalization does not purport to be complete and is qualified in its entirety by reference to the complete text as set forth in our SEC filings.

BTCS is an early entrant in the Digital Asset market and one of the first U.S. publicly traded companies to be involved with digital assets and blockchain technologies. Please visit the About Us or Operations sections for more information or review our SEC filings.

The Company’s common stock is quoted on The Nasdaq Capital Market and traded under the symbol “BTCS”.

The Company has never declared or paid any dividends on its capital stock.

Dave Gentry, RedChip Companies Inc., [email protected] or [email protected] (407) 491-4498.

Our corporate address is a P.O. box and we do not currently maintain physical office space. Our staff works very effectively remotely, and we believe a distributed work force may allow us to attract better talent in the future as we grow our operations.