SOURCE: Bitcoin Shop, Inc.

Bitcoin Shop, Inc.

October 14, 2014 09:00 ET

Bitcoin Shop Enters Into Lockup Agreements With Certain Officers, Directors and Large Shareholders

ARLINGTON, VA--(Marketwired - Oct 14, 2014) - Bitcoin Shop, Inc. (OTCQB: BTCS) ("Bitcoin Shop" or the "Company"), an operator of the digital currency ecommerce marketplace www.bitcoinshop.us, which is undertaking the build-out of a universal digital currency ecosystem, today announced that it has entered into lockup agreements with certain officers, directors and large shareholders pursuant to which the parties agreed to refrain from selling or transferring an aggregate of 71,254,575 shares of the Company's common stock they own until February 5, 2017. The lockup may be terminated by the mutual agreement of the Company and the respective party, and if not sooner terminated, will terminate upon the expiration date.

Charles Allen, Chief Executive Officer of Bitcoin Shop, commented, "We are pleased with the progress Bitcoin Shop has made in a short amount of time. Moreover the digital currency industry is rapidly growing and we are very enthusiastic about the long term prospects of both our Company and the industry. As a demonstration of our belief and optimism in the future of our Company, certain insiders and I have voluntarily agreed to lock up certain of our equity until February 2017. We remain committed to our shareholder base and the strategic plan we have set forth."

About Bitcoin Shop, Inc.:
 
Bitcoin Shop, Inc. plans to build a universal digital currency platform with the goal of enabling users to engage in the digital currency ecosystem through one point of access. We currently operate 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 ecommerce customer orders are fulfilled by third party vendors. We plan to use our ecommerce platform as a customer on-ramp for a broader digital currency platform. We have been actively partnering with strategic digital currency companies who have technologies, services or products that are complementary to our business strategy by making investments in them and integrating with them.

Digital currencies use peer-to-peer networks to facilitate instant payments. They are categorized as cryptocurrencies, as they use cryptography as a security measure. Digital currency 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

  • Investor Relations Primary Contact:
    Valter Pinto
    Capital Markets Group, LLC
    (914) 669-0222 or (212) 398-3486
    Email Contact

    Investor Relations:
    Jon Cunningham
    RedChip Companies, Inc.
    (800) 733 2447 ext 107
    Email Contact

    Bitcoin Shop Media Contact:
    Katherine Chang
    Transform Public Relations
    (310) 862-6312 (direct)
    Email Contact