Bitcoin Shop Inc (OTCMKTS:BTCS) is making a huge move up on accelerating volume since reversing off $0.09 lows. The stock has a history of big moves running as high as $0.375 earlier this year.

BTCS is in the business of developing, marketing and operating an e-commerce website, which offers its users an online marketplace for transacting business in digital currencies, including Bitcoins, Litecoins and Dogecoins. The Company is also in the business of mining Digital Currencies specifically Bitcoin.

Bitcoin Shop Inc (OTCMKTS:BTCS) operates the website btcs.com where consumers can purchase products using digital currency such as bitcoin, litecoin and dogecoin, by searching through a selection of over 2,000,000 items from 85 retailers (“Beta”), as well as their legacy site at legacy.bitcoinshop.us.

BTCS does not take physical possession or title to any inventory in either the Beta or Legacy sites. All orders are originated by the Company’s customers through its websites and are fulfilled by third party vendors. The Company charges its customers a processing fee and earns a profit margin on each transaction. Customers purchase merchandise on the Company’s websites in amounts denominated in Digital Currencies.

The Company converts a portion of the Digital Currencies received from its customers as payment, to an amount of USD that are needed to remit payments to third party vendors that ultimately fulfill the orders; provided, however the Company from time to time elects to retain the Digital Currencies and pay third party vendors with the Company funds.

BTCS has been making several important acquisitions and investments in recent months to drive future growth, some of them very smart investments; BTCS was one of just four investors in GoCoins Series A back almost a year ago. Since then PayPal partnered with GoCoin for their upcoming bitcoin integration. See here.

To Find out the inside Scoop on BTCS Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

In October of last year BTCS made a strategic investment in Coin Outlet, Inc. which plans to establish and operate a worldwide bitcoin ‘ATM’ kiosk network. Bitcoin Shop. Coin Outlet recently partnered with Locant Services who holds the exclusive rights to locate equipment such as bitcoin ATMs at over 100,000 high traffic locations across the United States. Coin Outlet also recently announced they are expanding into Europe.

In recent news BTCS said it was acquiring LibertyX’s (formerly Liberty Teller’s) ATM network. The four LibertyX machines will be rebranded as Coin Outlet ATMs but will still remain in their existing locations.

LibertyX gained fame for launching the very first Bitcoin ATM in the United States at Boston’s South Station, only a year ago. LibertyX Co-Founder Chris Yim said the decision to sell the ATM arm of their company to Coin Outlet was “a natural evolution of their business and allows them to scale quickly and focus on adding partners and services to their existing 2,500 cash-to-bitcoin store locations.”

On March 26 BTCS announced it has acquired an additional 2% equity ownership in Coin Outlet from Eric Grill, Coin Outlet’s CEO, for 701,966 shares of the Company’s common stock. BTCS now owns approximately 4.2% of Coin Outlet’s equity and has the ability to own up to 11% upon exercise of its previously issued option and warrant.

BTCS CEO Charles Allen commented, “Today we are pleased to announce our additional ownership interest in, and partnership with, Coin Outlet. Their ATMs should allow consumers to exchange fiat currency for bitcoins through one fundamental and easy-to-use transaction. Additionally, with the help of Coin Outlet, we plan to leverage their ATM network as another on-ramp to our planned universal digital currency ecosystem.”

We have a Monster Pick Coming. Subscribe Right Now!

Currently trading at a $31 million market valuation BTCS has a ton going for it here; the Company’s balance sheet has improved significantly with over $100,000 in cash and over $200,000 in digital currencies on the books. BTCS seems to be making all the right moves with an aggressive business plan and rapid expansion in a fast growing industry; 2015 looks to be a great year for bicoins; the sector continues to display major momentum with the number of bitcoin-related startups and jobs booming. We will be updating on BTCS when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with BTCS.

Disclosure: we hold no position in BTCS either long or short and we have not been compensated for this article.