Latest / The Paul Barron Crypto Show / World's First Ethereum Dividend for $BTCS is MASSIVE!!🚨CEO Charles Allen INTERVIEW🔥

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World's First Ethereum Dividend for $BTCS is MASSIVE!!🚨CEO Charles Allen INTERVIEW🔥 · The Paul Barron Crypto Show

• 0:00
  Speaker 1: All right, Today we're going to get into something I
• 0:01
  Speaker 1: think guys are going to love, and that is the
• 0:03
  Speaker 1: first ever Ethereum dividend. I'll explain in a minute. It's
• 0:07
  Speaker 1: going to be a big one. My name is Paul Barrel.
• 0:09
  Speaker 1: Welcome back into the show. I do want to thank
• 0:10
  Speaker 1: our sponsor today and that is Gemini. You guys can
• 0:13
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• 0:16
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• 0:19
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• 0:23
  Speaker 1: And the cool thing about this is that you can
• 0:26
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• 0:28
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• 0:30
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• 0:32
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• 0:35
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• 0:41
  Speaker 1: of nice is once you get to the level of
• 0:44
  Speaker 1: three k in your spending, so imagine you put all
• 0:47
  Speaker 1: your expenses on it over a period of time, you
• 0:49
  Speaker 1: get ninety days, eat another two hundred bucks back. So
• 0:52
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• 0:57
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• 0:59
  Speaker 1: getting your rewards back to you. So ETH right there
• 1:03
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• 1:07
  Speaker 2: All right.
• 1:07
  Speaker 1: I wanted to bring in Charles coming in from BTCS
• 1:11
  Speaker 1: and we've had him on before, and Charles, you've got
• 1:15
  Speaker 1: some big news going on here. First of all, let's
• 1:18
  Speaker 1: get into the announcement. Explain to us what you guys
• 1:22
  Speaker 1: have done. This is a big deal for ETH dividend.
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  Speaker 3: Yeah, so we're now the first first public company in
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  Speaker 3: the world to issue a dividend in ethereum. So for
• 1:34
  Speaker 3: all of our shareholders and series be holders, they'll get
• 1:37
  Speaker 3: five cents a share. If you don't want it in ethereum,
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  Speaker 3: you'll automatically get it in cash. And if you choose
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  Speaker 3: to take that in Ethereum, you have to opt in,
• 1:45
  Speaker 3: and unfortunately there's a little bit of paperwork to move
• 1:47
  Speaker 3: over your shares. I think what's more important though, is
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  Speaker 3: for our shareholders that are long term holders and do
• 1:54
  Speaker 3: not kind of need liquidity right now, if you move
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  Speaker 3: your shares to our transfer agent and hold them there
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  Speaker 3: for one hundred and twenty days from the record date.
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  Speaker 2: So let's call it till January.
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  Speaker 3: Twenty sixth, twenty twenty six, We're going to pay you
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  Speaker 3: an additional thirty five cents of share in Ethereum. So
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  Speaker 3: you attitude together, you're at about forty cents a.
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  Speaker 1: Share, So forty cents a share coming in. You guys
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  Speaker 1: are calling this the bivid in, which is blockchain dividend,
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  Speaker 1: first ever payable in eth A couple of things I
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  Speaker 1: wanted to get to because there's kind of the breakdown
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  Speaker 1: between the loyalty payment and the dividend or the pivid
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  Speaker 1: in itself is in terms of you said paperwork. I'm
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  Speaker 1: looking at the form here online. If I get into this,
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  Speaker 1: what is the process for me as a shareholder to activate?
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  Speaker 3: So basically, you give us your name, your phone number,
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  Speaker 3: your email, and you put your Ethereum wallet in and
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  Speaker 3: you request the form. You'll get an email, an automated
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  Speaker 3: email from us. It'll have the directions of what you
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  Speaker 3: need to do. It'll tell you the information you need
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  Speaker 3: to gather. It'll have a link to a DOCU signed form.
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  Speaker 3: You go complete the DOCU side with the information that's requested,
• 3:03
  Speaker 3: submit that and then there's one last piece, and that
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  Speaker 3: is you have to call up your broker or do
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  Speaker 3: it online and have them move your shares from your
• 3:12
  Speaker 3: broker's firm to the transfer agent. Now that process differs
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  Speaker 3: for every broker, so we don't have directions there. It'll
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  Speaker 3: be different from Charles Schwab, it'll be different for TDM Meriatrade,
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  Speaker 3: except if it's a DRS transfer, it's typically free. Most
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  Speaker 3: of the brokers won't charge you, So it's just you know,
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  Speaker 3: it's like calling Verizon though, right you're gonna be sitting
• 3:31
  Speaker 3: there on the phone for probably car. You know, maybe
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  Speaker 3: it'll be faster, but it's you know, in our view,
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  Speaker 3: it's worth it. Yeah, So there's about three million shares
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  Speaker 3: short in btcs. We're trading below book and so we
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  Speaker 3: were faced with this you know predicament. We're obviously not
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  Speaker 3: going to go out and raise money at a discount
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  Speaker 3: to the book value of our company, which is just
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  Speaker 3: a cash and crypto and it completely excludes all of
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  Speaker 3: our operations build their Plus, you know, everything we've been
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  Speaker 3: you know, working on from the validation from between note
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  Speaker 3: ops and Builder Plus. So you know, this is just
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  Speaker 3: a way to encourage shareholders to move their shares and
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  Speaker 3: get them out of their brokerage. Firm, because I think
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  Speaker 3: a lot of people don't understand is if your shares
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  Speaker 3: are at your brokerage firm and you're in a margin account,
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  Speaker 3: most the brokerage firms will lend your shares out to
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  Speaker 3: the two short sellars so they can bet against you.
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  Speaker 3: They don't pay you for doing that, right, And I wrote.
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  Speaker 2: A thought leadership piece on.
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  Speaker 3: This and included the language from Charles Schwab where literally
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  Speaker 3: they say, if you're in a margin account, we can
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  Speaker 3: lend your shares out and we don't have to commentate
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  Speaker 3: you at all. So if you think you're going along
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  Speaker 3: a company and all the shares get consolidated from all
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  Speaker 3: the retail brokers into you know, one lending desk or
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  Speaker 3: two lending desks, if someone wants to go stop, they
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  Speaker 3: can just go to that lending desk and borrow it.
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  Speaker 3: And I don't think that's the intent of most shareholders,
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  Speaker 3: retail shareholders in a company, is that when they're buying
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  Speaker 3: their long they believe in a company, but they're actually
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  Speaker 3: just loaning their shares out for someone to bet against them.
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  Speaker 2: And so the cost to.
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  Speaker 3: Right now the interest rate to borrow for our shares
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  Speaker 3: to you if you want to borrow them is I
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  Speaker 3: think between twenty and thirty percent. So literally brokers are
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  Speaker 3: making twenty to thirty percent loaning out our shares, or
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  Speaker 3: if you're in a securities lending program, which I guess,
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  Speaker 3: I mean I don't like either, but at least it's
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  Speaker 3: better you're getting paid something.
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  Speaker 2: You're making money as well.
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  Speaker 3: So if the brokers are going to pay you to
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  Speaker 3: bet against it yourself and you're gonna shoot yourself on
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  Speaker 3: the foot, well we'll pay you, you know, to take
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  Speaker 3: ownership and responsibility of your investment and you know, come
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  Speaker 3: come store in a safe way until you're ready to sell.
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  Speaker 2: Well.
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  Speaker 1: And I think the key here is you look at
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  Speaker 1: the ethereum market of where it's potentially going to be going.
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  Speaker 1: We're still very very bullish, So this is all benefiting
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  Speaker 1: I think any of the stockholders of BTCS. What was
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  Speaker 1: amazing to me I was looking at the comparison of
• 5:54
  Speaker 1: Digital Oil, which is E compared to Chevron. They're paying
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  Speaker 1: like four percent four point three nine on an annual dividend,
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  Speaker 1: and you guys are coming out with this loyalty platform
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  Speaker 1: that's almost eight percent. I calculated this down from a
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  Speaker 1: shareholder that is significantly different. Do you think this is
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  Speaker 1: going to really hit home with people who are traditional
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  Speaker 1: investors or do you think you'll get some new investors
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  Speaker 1: trying to come in and take action on what you
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  Speaker 1: guys are doing.
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  Speaker 3: Well, the majority of our investors are still primarily retail,
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  Speaker 3: right three percent is institutional holdings, you know, excluding management.
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  Speaker 3: And so the hope is either we activate and get
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  Speaker 3: a bunch of retail investors that own shares to learn
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  Speaker 3: about what potentially going on that their shares are being
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  Speaker 3: used to bet against them and take action, or perhaps
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  Speaker 3: there'll be new shareholders that come in, you know, take
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  Speaker 3: up positions for the sole purpose of moving their shares
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  Speaker 3: you know, off market. And so that was the you know,
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  Speaker 3: the rationale behind it. You know, I would add that,
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  Speaker 3: you know, management isn't getting the loyalty payment, so you know,
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  Speaker 3: insiders are only going to get the diffidend like every
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  Speaker 3: other shareholder, because all shareholders need to be treated equally.
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  Speaker 3: The loyalty payment's more like a perk, right. There's lots
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  Speaker 3: of companies that offer perks, right, Like, if you you
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  Speaker 3: know AMC you can get discounts on your st theater tickets.
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  Speaker 3: Coinbase is getting like ten dollars free. If you're a
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  Speaker 3: shareholder for a year and you open an account, there
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  Speaker 3: are all sorts of perks. This is no different than that.
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  Speaker 3: This is a if you're a long term shareholder and
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  Speaker 3: you believe in the company, we want to reward you
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  Speaker 3: for that. And you know, just please don't let your
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  Speaker 3: broker bet against you. It's kind of the message, and well,
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  Speaker 3: we'll pay you exactly.
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  Speaker 2: There you go.
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  Speaker 1: I like it, and this is to me, is one
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  Speaker 1: of the best perks I've seen. I haven't seen eth
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  Speaker 1: coming back into my wallet as a perk, so that
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  Speaker 1: that's a benefit. One thing that I noticed on it.
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  Speaker 1: You put out a tweet here is if you leave
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  Speaker 1: your shares on Robinhood, you still get the five cents
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  Speaker 1: and then if you move your shares and that gets
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  Speaker 1: back to your point to the trans agent, do you
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  Speaker 1: have access? Explained to our audience a little bit more
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  Speaker 1: about transfer agents. How do you manage the shares that
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  Speaker 1: are in there while they're in there?
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  Speaker 3: So every public company is required to have a transfer agent,
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  Speaker 3: and they're they're registered with the SEC and a transfer
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  Speaker 3: agent keeps the accurate books and records.
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  Speaker 2: Of the company.
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  Speaker 3: Now, what happens in public markets is most of the
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  Speaker 3: shareholders are in street name, so that means they're held
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  Speaker 3: in brokerage firms, and then the rest are in record
• 8:31
  Speaker 3: name or book name is what they're called. And so
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  Speaker 3: Sedentcoe is like the largest shareholder on our books. We
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  Speaker 3: have no idea who owns those shares. So someone said it, well,
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  Speaker 3: I'm a shareholder of BTCS, we would have no way
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  Speaker 3: of verifying that. And so on a daily basis, there's
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  Speaker 3: a reconciliation of where the shares are between all the
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  Speaker 3: brokerage firms and this happens with DTC and this whole
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  Speaker 3: process is so complex and so for us to know
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  Speaker 3: who a shareholder is and be able to pay them
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  Speaker 3: in ethereum, we need their wallet address and we need
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  Speaker 3: to know who they are, and so that's why they.
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  Speaker 2: Have to move their shares to the transfer agent. It
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  Speaker 2: also stops the shares from being lined.
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  Speaker 1: Yeah, where so where do the dividends the bividends come from.
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  Speaker 1: You have to go out to the open market and
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  Speaker 1: get it.
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  Speaker 3: We already have eth, right, so we have seventy thousand
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  Speaker 3: plus eth. So we have, you know, a huge bag
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  Speaker 3: of eth we're sitting on. We have cash so you
• 9:27
  Speaker 3: know it's it's coming from the company treasury.
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  Speaker 1: From operations and treasury. Okay, how long is the transition
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  Speaker 1: time from that that deadline? You know, if you look
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  Speaker 1: at holding it through that window, how quickly would you
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  Speaker 1: get your pividend at the end.
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  Speaker 3: So the dividend would be if the record dates the
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  Speaker 3: twenty sixth, it would be shortly after. So I don't
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  Speaker 3: know the exact timeframe for if you get it in cash,
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  Speaker 3: it's probably under five days, one to three days or something.
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  Speaker 3: You know, we'll send a wired and a wire gets
• 9:57
  Speaker 3: sent to the brokerages.
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  Speaker 2: Except what if you do you keep getting it a ETH.
• 10:01
  Speaker 3: If you're getting an ETH, you will have moved your
• 10:03
  Speaker 3: shares over to the transfer agent. It'll probably take us
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  Speaker 3: a little bit longer to process, but I would say
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  Speaker 3: within a week.
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  Speaker 1: So we're just all right.
• 10:11
  Speaker 2: We can manually send it, right. I mean, I'm not
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  Speaker 2: gonna sit there and do it.
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  Speaker 3: If we had ten people do it, I would just
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  Speaker 3: it wouldn't be worth you know, coding it sure, thousands
• 10:21
  Speaker 3: and thousands of people. We're gonna have a script, we're
• 10:23
  Speaker 3: gonna have a wallet address, you know, and it'll just
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  Speaker 3: automatically run through and send each wallet address it's it's
• 10:30
  Speaker 3: allocated eth.
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  Speaker 1: And this really gets to the point of thwarting the
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  Speaker 1: short sellers because they don't have access to the stock
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  Speaker 1: any longer to lend against it to where they can
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  Speaker 1: basically short the stock. So that's a huge play. I'm
• 10:46
  Speaker 1: kind of curious. What is the market said to you
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  Speaker 1: about this move so far? What has been the feedback?
• 10:52
  Speaker 2: Well, it goes beyond that.
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  Speaker 3: If you're short of stock, you have to pay the dividend,
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  Speaker 3: so they have to come out of pocket and pay
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  Speaker 3: the five cents, so they have that this period, right,
• 11:02
  Speaker 3: So it's I mean, we looked at it and there
• 11:05
  Speaker 3: was it was like ten percent of our you know.
• 11:09
  Speaker 2: Public float was short.
• 11:12
  Speaker 3: There's thirty to forty percent you know, is the daily
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  Speaker 3: value of shorts sold every day? So you know, how
• 11:20
  Speaker 3: is the market going to react? We'll see, right, I mean,
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  Speaker 3: we put out the press release this morning. I think
• 11:26
  Speaker 3: a lot of people are confused by it. Why we
• 11:28
  Speaker 3: would do it? You know, if it really well, you
• 11:29
  Speaker 3: should just be stacking eath regardless of the price. It's like,
• 11:31
  Speaker 3: we're not going to do that, you know, we want
• 11:33
  Speaker 3: to create long term shareholder value, not endlessly diluted the reason.
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  Speaker 2: But we'll see. I mean, this is something that's going
• 11:39
  Speaker 2: to take time.
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  Speaker 3: If it has no reaction on the stock prices, that
• 11:43
  Speaker 3: that that's fine. Our shareholders still win, right, they'll they'll
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  Speaker 3: just get some cash back from the companies. And you know,
• 11:48
  Speaker 3: this is not a material amount of money.
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  Speaker 2: For the company.
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  Speaker 1: Yeah, you put out a report why fake shares force
• 11:56
  Speaker 1: lending must be outlawed. This is to your point that
• 11:58
  Speaker 1: you're getting at right here, market integrity. This has been
• 12:02
  Speaker 1: around for a long time in Wall Street. I think
• 12:04
  Speaker 1: it's you know, and many people I know Elon Musk
• 12:07
  Speaker 1: is like one of the more you know, famous people
• 12:09
  Speaker 1: that have pushed on this before. Do you think this
• 12:12
  Speaker 1: is going to make a big impact in general within
• 12:16
  Speaker 1: treasury companies? Do you think other treasury companiespecially around eth
• 12:19
  Speaker 1: will copy.
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  Speaker 3: You, Well, everybody's been copying us for ten years on everything,
• 12:24
  Speaker 3: so maybe this isn't that easy to do, right, I mean,
• 12:30
  Speaker 3: this is this isn't the first time we did this.
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  Speaker 3: In twenty twenty two, we were trading well below book
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  Speaker 3: value and we paid a the first ever you know,
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  Speaker 3: dividend in bitcoin. It's a very positive market reaction in
• 12:45
  Speaker 3: terms of what people copy us. I think there was
• 12:47
  Speaker 3: one other that announced they're going to do it. The
• 12:49
  Speaker 3: logistics behind this are very you know, it's a lot
• 12:52
  Speaker 3: of process. So this has been in the works for
• 12:55
  Speaker 3: someone we've done in the past. It took a long
• 12:57
  Speaker 3: time to figure out the first time. The second time,
• 13:00
  Speaker 3: you know, it's been in the works for you know,
• 13:02
  Speaker 3: three weeks prior to get into the announcement point. Uh
• 13:07
  Speaker 3: So it's just it's it's something that takes time. Other
• 13:10
  Speaker 3: companies could copy, Yes, we'll we'll see.
• 13:13
  Speaker 1: Well, I'm looking at the list of strategic reserves companies
• 13:18
  Speaker 1: out there. Obviously we've seen you guys holding the number
• 13:21
  Speaker 1: eleven slot right there. Why do you think that the
• 13:24
  Speaker 1: MNAV is actually under when we're seeing a lot of
• 13:27
  Speaker 1: people over indexing on their you know, their v in general,
• 13:32
  Speaker 1: why do you think that is would be TCS.
• 13:35
  Speaker 3: Well, I think the first thing I would point out
• 13:37
  Speaker 3: is if you look, there's you know, little orange explanation
• 13:42
  Speaker 3: point warning signs by basically everybody but us, Right, So
• 13:46
  Speaker 3: that tells you that the share count is not necessarily accurate.
• 13:51
  Speaker 3: They're not disclosing the shares out dating, which makes sense, right,
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  Speaker 3: So what happened to us. We we put up a
• 14:00
  Speaker 3: two billion dollars shelf. When we did that before we
• 14:04
  Speaker 3: even finished our previous two hundred and fifty million dollar ATM.
• 14:07
  Speaker 3: The primary thought was, well, it's good to have these
• 14:10
  Speaker 3: things in place, to have optionality to the extent you
• 14:12
  Speaker 3: want to use them. They're good for three years. And
• 14:14
  Speaker 3: at a time when we started being that filing prepared,
• 14:18
  Speaker 3: the market was reacting very favorably to companies coming out
• 14:21
  Speaker 3: and say they're going to raise huge amounts.
• 14:22
  Speaker 2: Of money to buy eat so it's like great.
• 14:24
  Speaker 3: Usually the market reactored poorly to putting out a big
• 14:28
  Speaker 3: shelf or like, we'll capture that opportunity to get that
• 14:31
  Speaker 3: news out there and let it, you know, fade to
• 14:32
  Speaker 3: the past. The reality is, I think we were at
• 14:34
  Speaker 3: the end of that window, and so shortly after that
• 14:36
  Speaker 3: the stock started to come down participately, and so now, you.
• 14:43
  Speaker 2: Know, would we still have done it. Yes.
• 14:44
  Speaker 3: I think having that optionality is very important, but investors
• 14:47
  Speaker 3: need to know just because you have the option to
• 14:48
  Speaker 3: do something doesn't mean you're going to do it if
• 14:50
  Speaker 3: it doesn't make sense.
• 14:52
  Speaker 2: So I think that's.
• 14:52
  Speaker 3: That's one of the reasons why our stock may have
• 14:55
  Speaker 3: come down. But it's hard to say.
• 14:57
  Speaker 2: I mean that.
• 14:57
  Speaker 3: You know, the capital markets are not crypto, doesn't it
• 15:00
  Speaker 3: doesn't trade in the same way. You know, it's possible
• 15:04
  Speaker 3: brokers could be marketing short trades is long. There could
• 15:07
  Speaker 3: be all sorts of other things going on in the
• 15:10
  Speaker 3: market that are very you know, we can't really prove.
• 15:13
  Speaker 3: We've hired lawyers in the past to try to figure
• 15:15
  Speaker 3: out where there could be market manipulation or other things
• 15:17
  Speaker 3: going on. And it's a black box, and so you know,
• 15:22
  Speaker 3: the tools you have are very limited as a public company,
• 15:24
  Speaker 3: right you've seen it Game one of the other companies
• 15:27
  Speaker 3: listed on the on that list, they announced the buy back,
• 15:30
  Speaker 3: bit Minor announced the buy back, didn't move the needle.
• 15:34
  Speaker 3: And so doing something differently where we try to really
• 15:39
  Speaker 3: get get shoholders to believe in the company to take
• 15:42
  Speaker 3: an action that's going to help themselves instead of complaining about, well,
• 15:45
  Speaker 3: why is your stock down?
• 15:46
  Speaker 2: What are you doing wrong?
• 15:47
  Speaker 3: Well, maybe what's wrong here is you're broker's lending your
• 15:49
  Speaker 3: shares out. You're too lazy to do anything about it,
• 15:51
  Speaker 3: and that will pay you to do happens if we
• 15:54
  Speaker 3: pay everybody to do something that happens, then we'll know
• 15:57
  Speaker 3: what the problem was.
• 15:58
  Speaker 1: Yeah, exactly for sure. I want to move on here.
• 16:01
  Speaker 1: You put out a tweet talking about turtle corn. I
• 16:04
  Speaker 1: see them back there, and you're in your background too.
• 16:06
  Speaker 1: U Plus you've got Pudgy involved. I'm just kind of curious,
• 16:09
  Speaker 1: why not go to where maybe you could get yields
• 16:13
  Speaker 1: or these diividends in other assets other than eth maybe
• 16:17
  Speaker 1: like a pango.
• 16:20
  Speaker 3: That's we can we can think about something like that.
• 16:22
  Speaker 3: I mean, right now we're kind of a theory in
• 16:24
  Speaker 3: first company where we want to be. You know, we
• 16:27
  Speaker 3: view ourselves as much more than just a treasury company.
• 16:30
  Speaker 2: We're focused.
• 16:30
  Speaker 3: You know, if you want one exposure, go buy an
• 16:32
  Speaker 3: ETF if you want one plus, you know staking there's
• 16:35
  Speaker 3: there's options. We've got block building and all sorts of
• 16:38
  Speaker 3: other things we're looking at. Uh as far as the
• 16:40
  Speaker 3: you know, the Pudgies, I mean, they're just an amazing
• 16:44
  Speaker 3: mascot for Crypto. We have turtle corn, which is our mascot,
• 16:46
  Speaker 3: which is kind of the combination of you know, the
• 16:50
  Speaker 3: turtles slow because we've been here eleven years now, an
• 16:54
  Speaker 3: the unicorns. If you're a billion dollars, so if we
• 16:55
  Speaker 3: get to a billion dollars or the turtle corn and
• 16:58
  Speaker 3: so we're just having some fun with it, right of
• 17:00
  Speaker 3: it in terms of the in the.
• 17:01
  Speaker 1: Turtles, this was a tweet best way for Wall Street
• 17:05
  Speaker 1: to value DATS digital asset treasury companies m NAB solid start.
• 17:11
  Speaker 1: You've been working on evaluation framework that you think they'll
• 17:14
  Speaker 1: look at, and you broke this down, which was a
• 17:17
  Speaker 1: revenue multiple, some ebada EPs, also a peg ratio, pe
• 17:23
  Speaker 1: to growth and then some of the metrics within this.
• 17:27
  Speaker 1: How well do you think this will play out? Do
• 17:30
  Speaker 1: you think we'll see maybe a new valuation process for dats.
• 17:37
  Speaker 3: Maybe Wall Street takes a lot of time to adopt
• 17:39
  Speaker 3: new age to value companies, and then when they don't
• 17:42
  Speaker 3: know how to do that, they're going to grab on
• 17:44
  Speaker 3: to something. So the traditional metrics, I think for a
• 17:47
  Speaker 3: lot of our shareholders, they are not cryptonative because they're
• 17:50
  Speaker 3: coming from Wall Street. The traditional equity metrics are going
• 17:52
  Speaker 3: to make a lot of sense. Revenue, revenue growth, you know,
• 17:57
  Speaker 3: profit margin, gross profit, IBAD, peg race, you accepter. I
• 18:00
  Speaker 3: mean there's all sorts of ev to evidad, like all
• 18:02
  Speaker 3: these metrics that that analysts and most of Wall Street
• 18:06
  Speaker 3: and retail is used to looking at these new kind
• 18:10
  Speaker 3: of crypto specific ones.
• 18:12
  Speaker 2: I think, are you know, gonna people want one number
• 18:17
  Speaker 2: to grab onto?
• 18:18
  Speaker 3: Right?
• 18:18
  Speaker 2: Everyone wants let's want others have asked for like, well,
• 18:22
  Speaker 2: what's your yield? Like what's your yield on your total?
• 18:25
  Speaker 3: That's really complex because if you're constantly you know, buying
• 18:29
  Speaker 3: ethan growing like at what at what point?
• 18:32
  Speaker 2: Right?
• 18:32
  Speaker 3: And so the reality is that I think that just
• 18:35
  Speaker 3: are quarterly and you know, annual filings will be a
• 18:38
  Speaker 3: very good place for the financial looking at the financial
• 18:41
  Speaker 3: health of a company and how it's doing because it
• 18:43
  Speaker 3: will measure averaged over time, what you're doing in terms
• 18:47
  Speaker 3: of revenue.
• 18:48
  Speaker 2: And bottom line. I think will probably a lot.
• 18:51
  Speaker 3: Of sense, you know, those other metrics. I think attention
• 18:55
  Speaker 3: multiple is one that not a lot of people talk about.
• 18:57
  Speaker 1: But yeah, I was gonna call that out in your tweet.
• 19:00
  Speaker 1: I mean that's huge because this is what crypto is
• 19:02
  Speaker 1: really all about right now.
• 19:04
  Speaker 3: I mean, if if you look at mean coins, right,
• 19:07
  Speaker 3: they trade on no fundamentals and it's all attention multiple.
• 19:10
  Speaker 3: Public companies apart from a few, don't really trade on
• 19:13
  Speaker 3: attention multiples.
• 19:14
  Speaker 2: The majority kind.
• 19:14
  Speaker 3: Of main street and the most of you're going to
• 19:16
  Speaker 3: look for what are these historic multiples that we're used
• 19:20
  Speaker 3: to understanding, And that's the way we've been leaning into
• 19:22
  Speaker 3: a lot. I mean, if if we're being honest, like
• 19:24
  Speaker 3: look at like why do we have turtle corn? Why
• 19:26
  Speaker 3: do I have a bunch of turtle corns? You know
• 19:28
  Speaker 3: behind my mask? Apart from that fact they're fun. But
• 19:32
  Speaker 3: you know, if a tree falls in the woods and
• 19:35
  Speaker 3: you know, and nobody hears, it didn't.
• 19:37
  Speaker 2: Make a sound.
• 19:38
  Speaker 3: So we gotta have the best numbers. We could have
• 19:40
  Speaker 3: the best business. But if if no one knows who
• 19:42
  Speaker 3: we are, who cares? And so even looking at this,
• 19:47
  Speaker 3: it's bibot end Why does it make a lot of sense? Well,
• 19:51
  Speaker 3: I mean, I'm here talking to you, right, there's a
• 19:53
  Speaker 3: lot of people interested in apart from the fundamentals behind
• 19:56
  Speaker 3: it of what we're trying to address, it is something
• 19:59
  Speaker 3: that is going to add to that attention multiple right,
• 20:01
  Speaker 3: and we think we should ideally we should trade it,
• 20:03
  Speaker 3: you know, with a fair valuation. Is we believe that's
• 20:05
  Speaker 3: not below liquidation and that's kind of ridiculous. But if
• 20:10
  Speaker 3: we can start to get you know, eyeballs you know
• 20:14
  Speaker 3: on the company, our business model what we're building, and
• 20:17
  Speaker 3: you know the value proposition of both our operations and ethereum.
• 20:21
  Speaker 3: You know, that's that really makes a compelling, you know,
• 20:23
  Speaker 3: investment thesis.
• 20:25
  Speaker 1: All Right, One last question I have for you is
• 20:27
  Speaker 1: around the potential of going on chain. So many people
• 20:31
  Speaker 1: have talked about token ised treasuries before. You know, we've
• 20:35
  Speaker 1: got the situation right now with asbat this of course
• 20:38
  Speaker 1: sharplying gaming one of the e treasuries out there. They
• 20:41
  Speaker 1: went on chain, even though I don't know if anybody's
• 20:43
  Speaker 1: going to use this, but the point is is that
• 20:45
  Speaker 1: it is available. What is the likelihood of maybe seeing
• 20:49
  Speaker 1: a token ied treasury side of this for BTCS in
• 20:57
  Speaker 1: what sense you mean like stock with the stock itself.
• 21:02
  Speaker 3: Tokenizing our security is a very big process. We actually
• 21:06
  Speaker 3: already did this. Most people may not know this, but
• 21:08
  Speaker 3: in twenty was it twenty twenty two or twenty twenty three,
• 21:12
  Speaker 3: we issued a Series V preferred stock and distributed that
• 21:16
  Speaker 3: to all of our shareholders. It was a major project,
• 21:19
  Speaker 3: and we listed that on Upstream, which was a securities
• 21:23
  Speaker 3: exchange that was built on top of a theory.
• 21:25
  Speaker 2: So it's basically token ied stock.
• 21:27
  Speaker 3: In order to have a token ied stock, you need
• 21:29
  Speaker 3: you have kind of a couple of problems. One, you
• 21:33
  Speaker 3: need to have shareholders or holders of that stock, so
• 21:35
  Speaker 3: you need to be able to issue it to them
• 21:37
  Speaker 3: or you need to be able to get it to them.
• 21:38
  Speaker 3: And then you need a liquid market to trade. And
• 21:42
  Speaker 3: so those are two really big hurdles, and you also
• 21:46
  Speaker 3: need a regulatory environment that's open to allow that to happen.
• 21:49
  Speaker 3: So when we did this in the past, the first
• 21:52
  Speaker 3: hurdle we had was we were going to issue the
• 21:54
  Speaker 3: Series V as convertible into common that all of our
• 21:58
  Speaker 3: shareholders could It's basically an eye you take the V,
• 22:01
  Speaker 3: you're issued it in a prefer the.
• 22:02
  Speaker 2: Preferred converts to common.
• 22:04
  Speaker 3: It only trades on as a tokenized equity. And that
• 22:07
  Speaker 3: was kind of, you know, it was basically your gateway
• 22:09
  Speaker 3: to get off of the traditional securities market to tokenize it,
• 22:13
  Speaker 3: because otherwise you have to find shareholders that want to
• 22:15
  Speaker 3: buy the token ied stocks. You got to create quitting
• 22:18
  Speaker 3: and we were like, well, we'll just take the thirty
• 22:19
  Speaker 3: thousand sheerholders we have, give not, you know, the the
• 22:22
  Speaker 3: redemption ticket in the form of preferred, and then you
• 22:24
  Speaker 3: go convert it to common.
• 22:25
  Speaker 2: It will trade on the blockchain as they didn't.
• 22:28
  Speaker 3: Like that, right, So we got to we've got a
• 22:30
  Speaker 3: firm maail on that like, and so we made it
• 22:34
  Speaker 3: non convertible and you know, had that trade, which was
• 22:39
  Speaker 3: not what we initially wanted. But we're like, we'll just
• 22:42
  Speaker 3: make do. And you know, fast forward, the SEC shut
• 22:46
  Speaker 3: it down. They basically forced the company to They forced
• 22:50
  Speaker 3: Upstream so they could not have US investors, and they
• 22:53
  Speaker 3: went to all of their clients and said, you know,
• 22:56
  Speaker 3: we like we we got a comment letter and they
• 22:58
  Speaker 3: wouldn't let us raise money. You're gonna registration statement through
• 23:01
  Speaker 3: as long as we used Upstream. So they basically shut it.
• 23:05
  Speaker 3: That was a couple of years ago. Under the new administration,
• 23:07
  Speaker 3: I think it's definitely doable. I don't know if we
• 23:10
  Speaker 3: want to be given the amount of work having done
• 23:12
  Speaker 3: it in the past and the other projects we have
• 23:16
  Speaker 3: on the horizon, that's not like a core priority for
• 23:19
  Speaker 3: us at the moment. I would definitely do if it
• 23:22
  Speaker 3: was turnkey and someone else builds the whole thing out
• 23:24
  Speaker 3: and tests it, or it's built out where we could
• 23:27
  Speaker 3: launch it very quickly, we'd be open to it. But
• 23:29
  Speaker 3: it's a it's a lot of work. I mean our
• 23:32
  Speaker 3: series V if we ooganize that right now, we would
• 23:34
  Speaker 3: do it because it's already outstanding with like thirty thousand people.
• 23:39
  Speaker 3: But try to build a market, it's really a big effort.
• 23:44
  Speaker 1: Well, you look at ETH in general. I think Tom
• 23:47
  Speaker 1: Lee's on record now calling for a fifteen thousand dollars
• 23:49
  Speaker 1: eight by end of year. What is your prediction if
• 23:51
  Speaker 1: we do see a FED rate cut, do you feel
• 23:54
  Speaker 1: like we're going to see ETH continue to track up?
• 23:58
  Speaker 3: Oh, one hundred percent. I mean, I'd love to see
• 23:59
  Speaker 3: ten by the end of the year. We'll see I
• 24:03
  Speaker 3: hope you know I'm wrong.
• 24:04
  Speaker 2: Tom's right. Either way, we.
• 24:06
  Speaker 1: Both win, Yeah, for sure. Listen, Charles is good having you.
• 24:09
  Speaker 1: Thank you so much for coming in on short notice.
• 24:12
  Speaker 1: Congrats on the pivotend. We're going to be watching this
• 24:14
  Speaker 1: one closely see how the market responds to it. So
• 24:18
  Speaker 1: kudos to you guys for doing some innovative stuff. Thanks again,
• 24:21
  Speaker 1: all right, thanks much.
• 24:23
  Speaker 2: You bet all right.
• 24:24
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• 24:26
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• 24:33
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• 24:37
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