MicroStrategy founder Michael Saylor speaks on the Bitcoin 2021 Convention in Miami on June 4, 2021.
CFOTO | Nurphoto | Getty Photographs
MicroStrategy, the software program firm turned “bitcoin growth” agency unveiled a brand new identify and emblem forward of its fourth-quarter earnings report.
Going ahead, the bitcoin proxy will now be referred to as Technique, the corporate stated in a press launch Wednesday. The revamp comes with a brand new bitcoin emblem and orange model coloration, in addition to an internet merchandise retailer.
A spokesperson for Technique didn’t instantly reply to a request for remark. Michael Saylor, the co-founder and government chairman, is anticipated to debate the rebrand on the corporate’s earnings name Wednesday night.
Technique first launched as a supplier of enterprise software program. Final yr, the corporate stated it could shift its focus and model to “bitcoin growth.” The agency employed an aggressive bitcoin-buying technique in 2020, and its shares have since primarily traded as a proxy for the crypto’s worth. Previously yr, Technique grew to become extra aggressive in its method, elevating billions of {dollars} by way of the sale of convertible bonds for the only goal of shopping for extra bitcoin.
Buyers in contrast Technique to meme shares following the election, as the corporate piled into bitcoin on a weekly foundation even because the flagship cryptocurrency hit file after file. Since President Donald Trump gained the election, bitcoin has surged practically 40%, whereas Technique shares have popped 50%.
Technique at present holds 471,107 bitcoins on its stability sheet. It is the biggest company holder of the cryptocurrency on the planet.
Shares of Technique have been final decrease by roughly 2% in afternoon buying and selling.