BTCS CEO Charles Allen sells $282,539 in common stock

Charles Allen, the CEO of BTCS Inc. (NASDAQ:BTCS), a company currently valued at $29.93 million, recently sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Allen sold a total of 200,000 shares of BTCS common stock over a three-day period from April 7 to April 9, 2025. The transactions were executed at prices ranging from $1.30 to $1.60 per share, resulting in a total sale value of approximately $282,539. InvestingPro analysis indicates the stock is currently trading below its Fair Value.

Following these transactions, Allen's direct ownership of BTCS stands at 4,178,622 shares. The sales were part of a planned trading arrangement under Rule 10b5-1, which allows company insiders to sell a predetermined number of shares at a predetermined time, helping to avoid allegations of insider trading. The stock has experienced significant volatility, with a beta of 2.93 and a 31.58% price return over the past six months.

BTCS Inc., a company engaged in crypto asset and blockchain technology development, has seen fluctuations in its stock price, reflecting the volatile nature of the cryptocurrency market. Investors will be watching closely to see how these sales might impact the company’s stock performance in the coming weeks.

In other recent news, BTCS Inc. reported a substantial increase in its 2024 revenue, reaching $4.1 million, marking a 204% rise from the previous year. The fourth quarter alone saw a 612% increase from the same period in the prior year. The company has expanded its block-building operations by integrating Binance Chain, which contributed significantly to its revenue, with the Builder+ operation generating $2.3 million in the fourth quarter. This expansion aligns with BTCS's goal to achieve a $20 million revenue target for 2025. In addition, BTCS disclosed that its crypto asset holdings were valued at $36 million as of December 31, 2024, providing a snapshot of its financial health in the volatile cryptocurrency market.

BTCS also announced a partnership with ETHGas to enhance transaction speed and efficiency on the Ethereum network, involving a $250,000 investment. The company aims to democratize access to blockspace, potentially increasing user adoption and revenue. Furthermore, BTCS's Chief Technology Officer, Manish Paranjape, has resigned as the company refocuses on its core blockchain operations. This shift includes hiring additional developers to support its growth strategy, emphasizing validator operations and block-building.

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