Here's Where The BTCS Inc (OTCMKTS:BTCS) Competitive Advantage Lies

Back in 2014 and again in 2016, cannabis stocks were the flavor of the quarter for a period of time and traders were able to draw profit from the market with very little effort. Any link to the cannabis space was enough to get a stock running and, while most of the traders realized that the party wouldn't last forever, picking up winners wasn't a particularly difficult task. During the time, here at Insider Financial, we highlighted the runners that we thought might not only serve up some immediate near-term gains for our readers but that could also hold onto their strength (or at least a degree of it) longer-term.Fast-forward to 2017 and what happened in the cannabis space during the above two mentioned years is happening in a different space altogether – cryptocurrency. The price of bitcoin has risen dramatically over the last 6 to 8 months and – while we have seen some degree of correction now and again – any corrections have been temporary and the overarching momentum has been, and remains, with the bulls.We have highlighted a number of winners across this period and our regular readers will be more than familiar with some of the big names in the space. With that said, we have also tried to mimic our approach to the cannabis space; that is, to look for only the best stocks in the bunch of companies that are drawing collateral gain from the rise in the price of bitcoin right now.The pool of public companies with ties to bitcoin is admittedly far smaller at present than was the case for cannabis stocks even as far back as 2014. This has made trawling through the runners a little bit easier, but it has far from been a walk in the park. The more bitcoin rises, the more companies try and jump on the bandwagon by claiming often tenuous links to the digital currency space and the more we have to sift through in order to pick winners.One such winner, and one that we are highlighting here as a company that we expect to continue to appreciate in value throughout the remainder of the year is BTCS Inc (OTCMKTS:BTCS).Back in May, the stock traded for $0.02 a share. We have highlighted it on a couple of occasions since then, and it could be a solid pick for anyone looking to pick up an exposure to the bitcoin space without actually wanting to buy bitcoin. At its most recent close, BTCS traded for $0.14 a share – a 600% gain.As we've said already though, we don't expect it to stop here.Last month, management put out this letter to shareholders detailing a strategy that will see it focus on initial coin offerings (ICO's). For us, this is a strong strategy and one that, if it can establish a first mover advantage in the space, could really drive growth as the bitcoin space moves into the mainstream. We also got word towards the end of last month that the company had appointed Jonathon R. Read to its Board of Directors. Read isn't a crypto currency guy, but he is a public company guy, and this is what a lot of the companies in the bitcoin space are missing right now. Many are comprised of a few engineers that have experience in building blockchain technology, but not experience in driving growth in a public company. With someone that has Read's background on the Board of Directors, we think BTCS has a jump on its competition in this space.As we try and reiterate repeatedly with these picks, this one is far from risk-free. This is a nascent space and only time will tell who the real winners will be. As far as picking out those with a competitive advantage goes, however, BTCS isn’t a bad choice for a potential long term buy and hold.Check out our previous coverage of BTCS here. We will be updating our subscribers as soon as we know more. For the latest updates on BTCS, sign up below!Image courtesy of stubblepatrol.comDisclosure: We have no position in BTCS and have not been compensated for this article.