MicroStrategy is rebranding into a Bitcoin development company to reflect the success it enjoys with the flagship digital asset.

In a Feb. 12 CNBC interview, Michael Saylor, the company’s executive chairman, said:

“MicroStrategy is now a Bitcoin development company, in the same way you would see a real estate or petroleum developer.”

This move marks a pivotal shift for the firm as it focuses on accruing more Bitcoin and fostering the growth of the blockchain network.

“It’s a natural decision for us given the success of our BTC strategy and our unique status as the world’s largest public company holder of Bitcoin,” Saylor added.

Speaking on the introduction of the new Bitcoin ETFs, Saylor noted the pent-up demand spanning a decade for these investment vehicles, adding that:

“BTC is the world’s most popular investment asset. It is novel, digital, global, unique, and uncorrelated to traditional risk assets. That makes it a natural addition to the portfolio of a responsible investor.”

$3.5 billion in unrealized profit

Meanwhile, Bitcoin’s price surge to more than $50,000 has propelled MicroStrategy’s unrealized profit on its BTC investment to approximately $3.5 billion.

Data from Saylor Tracker, a platform dedicated to monitoring MicroStrategy’s Bitcoin acquisitions, showed that the company’s BTC holdings are now valued at approximately $9.4 billion, reflecting a staggering profit margin of 58.69%, equivalent

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Author: Oluwapelumi Adejumo

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