September 12, 2014: 04:35 PM ET
Bitcoin Shop, Inc. (OTCQB: BTCS) (“Bitcoin Shop” or the “Company”), operator of the digital currency ecommerce marketplace http://www.bitcoinshop.us, today announced the appointment of current Chief Executive Officer, Charles Allen, as Executive Chairman of the Board of Directors, effective September 11, 2014.
Charles Allen commented, “The Board of Directors believes that at the current stage of the Company’s progression, operations will be streamlined in a more efficient manner if the Chairman and Chief Executive Officer roles are combined. This is a very exciting time for the digital currency industry as a whole and more specifically the opportunities Bitcoin Shop is being presented with to contribute to this burgeoning industry.”
In order to have more time to focus on software development, Timothy Sidie is stepping down from the Board of Directors and as an officer. Timothy and the Board of Directors were in mutual agreement that his time is best suited focused on leading the technology development of the Company.