As Saylor explained, “Bitcoin is sought after because it offers a lack of correlation with traditional risk assets and is not tied to any specific country, company, competitor, weather condition, war, employee base, or supply chain.” Recognizing the expanding adoption of Bitcoin and the potential for military-technical cooperation, MicroStrategy intends to align its activities accordingly and undergo a strategic rebranding. While the company will continue to accumulate additional Bitcoins, its focus will shift toward the development and implementation of promising technologies associated with the cryptocurrency. This shift in direction will also contribute to the overall growth and advancement of the Bitcoin network.
Emphasizing the company’s unique position as the world’s largest publicly traded Bitcoin holder, Saylor said, “This is a natural decision for us, given the success of our Bitcoin strategy.”
In the past, MicroStrategy had made it clear that it intended to continuously add to its Bitcoin reserves. In January, the company purchased an additional 850 bitcoins for $37 million, bringing its total holdings to 190,000 BTC valued at $8.1 billion.