MicroStrategy (NASDAQ: MSTR) has rebranded to “Strategy,” a move announced Wednesday that emphasizes the company’s dedication to its cryptocurrency strategy. Along with the new name, the company has adopted a logo incorporating a Bitcoin symbol and changed its primary brand color to orange.
Strategy declared itself as “the world’s first and largest Bitcoin Treasury Company,”. Michael Saylor, the company’s founder and executive chairman, stated that the rebranding represents a simplification of the company name to its strategic core.
The company holds over 470,000 bitcoins, acquired at an estimated cost of $30 billion. Since it began investing in Bitcoin in 2020, Strategy has become the largest corporate holder of the cryptocurrency.
Despite the rebrand, Strategy’s stock experienced a roughly 2% decrease on Wednesday, with little change following the announcement. The stock has increased 17% YTD, compared to Bitcoin’s 1% gain.
Strategy has been actively raising capital to fund its bitcoin investments, including the recent sale of preferred stock. CEO Phong Le mentioned intentions to focus more on fixed-income issuance this year, including convertible bonds and preferred stock.
The company reported a net loss of $670.8 million, or $3.03 per share, for the three months ended Dec. 31. However, Strategy will adopt a new accounting rule in the first quarter, allowing it to measure the fair value of its bitcoin holdings. CFO Andrew Kang indicated that the fourth quarter would be the last to recognize an impairment charge on its Bitcoin holdings.
