Bitcoin Shop, Inc. (OTCQB: BTCS) (the "Company"), the virtual currency ecommerce marketplace 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, 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, 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.