The value of the company’s shares have nearly doubled since the initial announcement of what is being called the first “Bividend”.

The Bividend will work similarly to a standard dividend except those who opt for this form of payment will receive $0.05 in Bitcoin per share based on the price of bitcoin on the ex-dividend date.

The value of BTCS stock increased to $7.80 per share, largely attributed to the buzz created on Reddit and other platforms.

The company’s CEO Charles Allen revealed that "This is a moment we have long anticipated since the Company purchased the domain,, in February 2015."

According to BTCS, they are the first NASDAQ-listed company to offer such a dividend service and believe this puts them at the forefront of innovation.

The strong demand and excitement for the Bividend is a good sign for bitcoin despite its recent downtrend. Bitcoin has decreased 36% in value, since hitting its all-time high in November.

The downtrend hasn’t discouraged retail traders from buying into the Bividend as BTCS shares have benefited from significant volume. The company saw over 9 million shares trade hands Thursday, demonstrating a 20% increase compared to average trading volume. At its peak, BTCS’ market cap saw a valuation of roughly $68 million on Thursday.

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