Microstrategy (MSTR) announced A change of spishy brand on Wednesday who underlined his commitment to his cryptocurrency strategy.
The company said that it would now do business under the name strategy and changed its logo into a bitcoin symbol. In its announcement, the strategy said it was “the first and the largest Bitcoin cash in the world”.
The actions of the company fell by around 2% on Wednesday and have changed little after the noon announcement. One year to date, the action has increased by 17% against the more modest gain of 1% bitcoin.
The company said in a regulatory file on Monday that it has more than 470,000 bitcoins bought over the years for around $ 30 billion. He started buying Bitcoin in 2020.
The company recently Sold privileged actions at a discount to finance its Bitcoin investments and said it plans to raise $ 42 billion Over the next three years as part of the strategy.
Formerly a small software company, it is now the largest Bitcoin portfolio company in the world, and its frenzy of expenditure on cryptocurrency has seen the bit-perform on bitcoin in the past five years.
Strategy actions have skyrocketed in the elections of the US President of Crypto Donald Trump as part of Trump’s so-called trade, but more recent Bitcoin purchases received a cooler reception like uncertainty surrounding economic policies de Trump puts cryptographic actions under pressure.
New prices on China, Canada and Mexico announced on Monday, for example, Sent Crypto stocks falling With the wider market.
The company is expected to publish results of the fourth quarter after the Bell on Wednesday.
Analysts followed by Bloomberg expect the company to declare a profit per share of $ 0.02 and a turnover of $ 124 million. Eleven of the analysts followed by Yahoo Finance have a purchase note on action. Microstrategy’s actions fell sharply after the results of its results in the third quarter in October, which missed analysts’ forecasts, just as the company unveiled its 42 billion dollars.
Laura Bratton is Yahoo Finance journalist. Follow it on Bluesky @ laurabratton.bsky.social. Send him an email to laura.bratton@yahoinc.com.
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