BTCS Inc. a company focused on blockchain technology - the software that underpins cryptocurrencies - listed on the Nasdaq technology index, says it will be the first to offer investors the option to receive dividends issued in bitcoin.

According to Bloomberg, the company, based in Silver Spring, Maryland, said in a statement last Wednesday that investors will have the option to receive dividends worth 5 cents per share or the equivalent in bitcoin - based on the price on a given date.

The "dividend" will be paid as of March 17.

BTCS shares advanced on this announcement, climbing as high as 43%, to $4.40 per share - which increased the company's market capitalization to about $43 million.

BTCS, which provides portfolio analysis, said it is assessing the appropriateness of future dividends.