Michael Saylor’s Business Intelligence firm MicroStrategy has rebranded to Strategy to emphasize its commitment to Bitcoin.
Background
- Strategy — a Nasdaq 100 company — is the largest corporate holder of BTC
- It has over 471,107 BTC worth around $44 billion in its stash
Why should you pay attention?
- Amid the rebranding, the company also released its Q4 2024 results
- It registered a fourth consecutive quarterly loss
- Strategy’s net loss figure hovered around $670.8 million, translating to $3.03 per share
- Contrastingly, a year back, it booked a profit of $89.1 million, i.e. an income of $50 cents per share
- This time’s loss stemmed from the company’s impairment charge on its BTC holdings
- Strategy is all set to adopt a new accounting rule in Q1, allowing it to measure the fair value of its BTC holdings
- Bernstein analyst Gautam Chhugani says that the company probably wants to emphasize BTC as its core business and is gradually trying to distance away from its software arm
Who said what?
- In a released statement, company executives asserted,
“This brand simplification is a natural evolution of the company, reflecting its focus and broad appeal. The new logo includes a stylized “B”, signifying the company’s Bitcoin strategy, and its unique position as a Bitcoin Treasury Company. The brand’s primary color is now orange, representing energy, intelligence, and Bitcoin”
- Michael Saylor, the founder and executive chairman, said,
“Strategy is one of the most powerful and positive words in the human language. It also represents a simplification of our company name to its most important, strategic core”
Zooming out
- Strategy's stock (MSTR) closed Wednesday’s trading session at $348.31
- It is up 576% over the past year
