The largest corporate holder of Bitcoin (BTC) is trying a new name as reports of a year of losses begin to surface.
Yesterday afternoon, Michael Saylor’s MicroStrategy announced a rebrand to simply “Strategy”.
According to the announcement, the new name and logo will focus on reaching a wider audience as the company hopes to have a wider appeal.
Says Saylor of the new look BTC corporate whale,
“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.
Antoine de Saint-Exupery said, ‘Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.’ After 35 years, our new brand perfectly represents our pursuit of perfection.”
The announcement was made just before Strategy posted quarterly earnings.
According to a Reuters report, those earnings showed a fourth consecutive quarter of losses, adding up to one full fiscal year.
Per Reuters, Strategy lost over $1 billion last quarter alone. During that quarter, Strategy bought 218,887 BTC for $20.5 billion, the company’s largest purchase yet.
Strategy is showing no signs of slowing down. Two weeks ago, shareholders voted to raise more funds to buy more BTC.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Follow us on X, Facebook and Telegram
Featured Image: Shutterstock/Art Furnace
Read the full article here