BTCS Inc. (OTCPK:BTCS) announced that it will has entered into an agreement to issue promissory note for gross proceeds of $1,000,000 on January 15, 2021. The company will also issue series D warrant to purchase 2,000,0000 shares of the company’s common stock at an exercise price of $2.16 per share, over a two-year period. The transaction will include participation from Cavalry Fund I L.P., a fund managed by Cavalry Fund I Management, LLC of the company. The promissory note is due on November 15, 2021 and shall bear interest at 12% per annum. The note is convertible at a 35% discount to the closing price of the company’s common stock on the date before exercise with a floor price of $0.75 per share. The securities are issued pursuant to exemption provided under from the registration requirements of the Securities Act of 1933 pursuant to Section 4(a)(2) and Rule 506(b) of Regulation D.