Michael Saylor Reaffirms the Mission of the Strategy: 'Bitcoin'

About 24 hours after renaming the company from MicroStrategy to Strategy, the founder and chairman of the company, Michael Saylor, broke his silence. On his official social media account on X, Saylor shared a three-line statement, noting that "Strategy is Bitcoin," reaffirming the focus of his brand. Bitcoin Strategy's Journey Operating for nearly 36 years, Strategy has recognized Bitcoin as one of the biggest influences in the company's history. The company adopted this currency as a reserve asset for silver TRA in August 2020 and has not looked back. Currently, HODL company holds a total of 471,107 BTC, worth over $46.3 billion at the time of writing. The company has accumulated this large amount using cash on the balance sheet and debt financing. By issuing senior convertible bonds to buy more BTC, Strategy has become the company holding the most important currency. In Saylor's belief in the prospect of Bitcoin, shareholders of this business intelligence company recently voted to dilute the company's shares from 330 million to 10.3 billion. This move is considered strategic as it will help the company have additional collateral to mitigate the risk of debt for assets. New brand, old strategy The decision to rename it to Strategy is a carefully considered move because Saylor's company is fully committed to this cryptocurrency. Reminding over 4.1 million followers on X could be Michael Saylor's way of reassuring the larger Bitcoin ecosystem about a reliable ally.

In supporting Bitcoin, Saylor always maintains a longer-term plan for Bitcoin. Although he has repeatedly stated that he has no plan to sell the company's BTC holdings, critics like Peter Schiff believe that excessive exposure to a risky asset is a bad idea. Bitcoin has helped Strategy in many ways, including putting the company in the Nasdaq-100 index a few weeks ago. Strategy is becoming a Bitcoin-first company.