Blockchain firm BTCS soars on retail rush for bitcoin dividends

FILE PHOTO: A representation of the virtual cryptocurrency Bitcoin is seen in this picture illustration taken October 19, 2021. REUTERS/Edgar Su

(Reuters) -Shares in blockchain technology-focused firm BTCS Inc rocketed on Thursday, set to extend a four-day rally, as more retail investors scooped them up after the company last week offered to pay dividends in bitcoin.

The Silver Spring, Maryland-based company has seen its stock value more than double since Jan. 5, when it proposed to pay $0.05 per share in bitcoin to those who opt for it. Its first bitcoin dividend, or "bividend" as BTCS calls it, is due on March 16.