SOURCE: Bitcoin Shop, Inc.

Bitcoin Shop, Inc.

September 12, 2014 16:35 ET

Bitcoin Shop Appoints Current CEO, Charles Allen, as Executive Chairman of the Board

ARLINGTON, VA--(Marketwired - Sep 12, 2014) - Bitcoin Shop, Inc. (OTCQB: BTCS) ("Bitcoin Shop" or the "Company"), operator of the digital currency ecommerce marketplace www.bitcoinshop.us, today announced the appointment of current Chief Executive Officer, Charles Allen, as Executive Chairman of the Board of Directors, effective September 11, 2014.

Charles Allen commented, "The Board of Directors believes that at the current stage of the Company's progression, operations will be streamlined in a more efficient manner if the Chairman and Chief Executive Officer roles are combined. This is a very exciting time for the digital currency industry as a whole and more specifically the opportunities Bitcoin Shop is being presented with to contribute to this burgeoning industry." 

In order to have more time to focus on software development, Timothy Sidie is stepping down from the Board of Directors and as an officer. Timothy and the Board of Directors were in mutual agreement that his time is best suited focused on leading the technology development of the Company.

About Bitcoin Shop, Inc.:
Bitcoin Shop, Inc. operates an ecommerce website (www.bitcoinshop.us) where consumers can purchase products using digital currency such as bitcoin, litecoin and dogecoin, by searching through a selection of over 400 categories and over 140,000 items. All orders are originated by the customers through our website and are fulfilled by third party vendors. We also plan to evaluate other strategic Digital Currency opportunities as well as technologies that are complementary to our business strategy. This will include evaluating opportunities that cross market our ecommerce site, diversify our revenue streams and provide on-ramps for new users.

Bitcoin, litecoin and dogecoin are digital currencies that use peer-to-peer networks to facilitate instant payments. They are all categorized as cryptocurrencies, as they use cryptography as a security measure. Bitcoin, litecoin and dogecoin issuances and transactions are carried out collectively by the network, with no central authority, and allow users to make verified transfers.

Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact Information

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