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Strategy Drops "Micro" for Bitcoin Focus, Holds $46B in BTC
Generated by AI AgentCoin World
Wednesday, Feb 5, 2025 4:01 pm ET1min read
MicroStrategy, the software company turned Bitcoin (BTC) acquirer, has rebranded as "Strategy" ahead of its fourth-quarter 2024 earnings report. The company unveiled a new name and logo, featuring a Bitcoin logo and orange brand color, hours before announcing its financial results.
The rebranding comes as the company continues to focus on Bitcoin development, having pivoted from its enterprise software roots last year. Over the past 18 months, Strategy has raised billions of dollars through the sale of convertible bonds to fund its Bitcoin purchases.
As of February 2, 2025, Strategy holds 471,107 Bitcoins on its balance sheet, worth approximately $45.93 billion at current prices. The company is now the largest corporate holder of the cryptocurrency worldwide. Since U.S. President Donald Trump's re-election in November 2024, Bitcoin's price has surged nearly 40%, while Strategy's stock has gained 50%.
Investors have compared Strategy to meme stocks in recent months, as the company has consistently added to its Bitcoin holdings even as the cryptocurrency reached record highs. Shares of Strategy were last trading lower by roughly 2% in afternoon trading.
The stock of MicroStrategy currently has a consensus Strong Buy rating among eight Wall Street analysts, with eight Buy recommendations issued in the past three months. There are no Hold or Sell ratings on the stock, and the average price target of $302.75 implies a 15.46% downside risk from current levels.
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