SOURCE: Bitcoin Shop, Inc.

April 03, 2014 09:00 ET

Bitcoin Shop Begins Accepting Dogecoin on Digital Currency Ecommerce Platform

SILVER SPRING, MD--(Marketwired - Apr 3, 2014) - Bitcoin Shop, Inc. (OTCQB: BTCS) (the "Company"), the virtual currency ecommerce marketplace www.bitcoinshop.us, today announced that it has begun accepting dogecoin on its ecommerce platform.

Charles Allen, CEO of Bitcoin Shop, commented, "Increasing the number of cryptocurrencies our ecommerce platform is capable of accepting has been an ongoing strategy of ours. Our recent partnership with GoCoin, www.gocoin.com, a leading international payment-processing platform, has allowed us to further pursue this goal. In doing so we not only diversify the risk associated with relying on one cryptocurrency, but also attract a broader consumer base. According to DogeChain (http://www.dogechain.info), by the end of 2014 approximately 100 billion dogecoins will be mined. We look forward to continuing to enhance the shopper and vendor experience on our platform going forward."

The partnership with GoCoin helps extend the link between virtual currencies like dogecoin and online shoppers. "It's exciting to see one of the first publicly traded bitcoin companies embrace the dogecoin community," remarked Steve Beauregard, Founder and CEO of GoCoin. "Until now, dogecoin has been used largely as a tipping coin, it will be exciting to see physical goods delivered to our user's front doors."

Introduced in December 2013, dogecoin is an open source peer-to-peer cryptocurrency. According to CoinMarketCap (http://www.coinmarketcap.com), today, dogecoin is the sixth largest cryptocurrency in the world in terms of market capitalization and, as of March 30, 2014, there were over 65 billion dogecoins that have been mined with an estimated 100 billion by the end of 2014. For more information please visit http://dogecoin.com.

About Bitcoin Shop, Inc.:
Bitcoin Shop, Inc. operates an ecommerce website (www.bitcoinshop.us) where consumers can purchase products using virtual currency such as bitcoin, litecoin and dogecoin, by searching through selection of over 400 categories and over 140,000 items. Bitcoin, litecoin and dogecoin are virtual 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 bitcoin 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

  • Contact:
    Bitcoin Shop, Inc.
    (202) 430-6576
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    Investor Relations Contact:
    Alliance Advisors, LLC
    (914) 669-0222 or (212) 398-3486
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