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U.Today - About 24 hours after it rebranded its corporate name from MicroStrategy to Strategy, the company’s founder and chairman, Michael Saylor, broke his silence. Taking to his official social media account on X, Saylor shared a three-line statement, noting, "Strategy is Bitcoin," reaffirming its brand focus.
Strategy’s Bitcoin ride
Having operated for close to 36 years, Strategy has acknowledged Bitcoin as one of the biggest influences in its corporate history. The company adopted the coin as a Treasury Reserve Asset (TRA) in August 2020 and has not looked back.Currently, the company HODLs a total of 471,107 BTC, valued at more than $46.3 billion at the time of writing. The firm accumulated this large amount with funds on its balance sheet and debt financing.
By issuing senior convertible notes to buy more BTC, Strategy has made its way to becoming the most significant corporate holder of the coin. Per Saylor’s belief in the prospects of Bitcoin, the business intelligence firm’s shareholders recently voted to dilute its shares from 330 million to 10.3 billion.
This move was considered strategic as it would help the company gain additional collateral to hedge its debt finance for the asset.
New brand, same strategy
The rebranding to Strategy is a well-thought-out move as the Saylor-owned firm is going all out on the coin. Reminding his more than 4.1 million followers on X might be Michael Saylor’s way of reassuring the broader Bitcoin ecosystem of a reliable ally.In his advocacy for Bitcoin, Saylor has always maintained a longer-term plan for Bitcoin. While he has repeatedly reiterated that he has no plans to sell the firm’s BTC stash, critics like Peter Schiff believe that excessive exposure to the risk asset is a bad idea.
Bitcoin has helped Strategy in several ways, including pushing it into the Nasdaq-100 Index weeks ago. Strategy is becoming a Bitcoin-first company.