Bitcoin Hard Forks as Dividends

At Bloomberg, Justina Lee compared the recent Bitcoin Gold hard fork to a stock dividend:

On top of stupendous capital gains, investors in bitcoin are also getting a dividend — if they’re lucky.

A split in the blockchain created a new offshoot in the form of bitcoin gold on Tuesday, with bitcoin holders receiving one unit for every bitcoin they own, according to the offshoot’s developers. The cryptocurrency fell from a record high after the so-called hard fork, just as stocks typically drop after going ex-dividend.

Of course, not all token holders received the dividend. For example. anyone holding BTC through Coinbase missed out. Then there’s the problem of whether a 5% of less dividend means anything when prices can fluctuate 30% in a week anyway.

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