Ether Treasury Play Sparks Rally as BTCS Doubles on $100M ETH Purchase Strategy

BTCS Stock Doubles on Ambitious $100M Ethereum Acquisition Plan

BTCS (Nasdaq: BTCS), a publicly traded blockchain firm, soared more than 100% on Tuesday after announcing a plan to raise $100 million to expand its Ethereum holdings, reinforcing its position as one of the earliest adopters of a crypto treasury strategy centered on ETH.

The company intends to secure funds through a mix of traditional and decentralized finance (DeFi) markets. It will leverage an existing $250 million at-the-market (ATM) equity program, pursue a convertible debt deal with ATW Partners, and borrow stablecoins via the Aave (AAVE) DeFi protocol.

“We believe that Ethereum has significant growth potential and is central to the future digital financial infrastructure,” said BTCS CEO Charles Allen. “Our capital-raising strategy has always been designed to minimize shareholder dilution, maintain flexibility, and uphold sound financial management.”

Crypto treasury strategies have become increasingly popular among public companies following Michael Saylor’s Strategy (MSTR), the largest corporate holder of bitcoin (BTC). Interest has now spread to Ethereum, with firms such as Sharplink Gaming (SBET), Bitmine Immersion (BMNR), and Bit Digital (BTBT) revealing plans to hold ETH as a treasury asset and operate validators.

BTCS was ahead of the curve, having pivoted its focus to Ethereum back in 2021 after operating in the blockchain sector since 2014. The firm currently holds 14,600 ETH, valued at roughly $38 million based on recent prices.