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Seeking Alpha 2022-01-13 13:47:07

BTCS skyrockets on adding Algorand to its blockchain infrastructure operations

BTCS (NASDAQ:BTCS) rallies 24.3% higher premarket after it added Algorand (ALGO) to its infrastructure staking operations whose features are asset development, atomic swaps and smart contract execution. The company earns revenue by being rewarded with additional tokens while it has also deployed a proprietary script to compound its rewards daily. ALGO was launched in 2019 by Turing Award-winning MIT professor and computer scientist, Silvio Micali and is a $9.5B payments-focused, decentralized network that enables processing speeds of 1K transactions per second and achieves block finality in less than five seconds. In early January, the company announced the first-ever dividend payable in Bitcoin. In the past 5-day trading session, the stock has added 50.6% gains while on YTD basis it surged 113.4%.

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