MicroStrategy Rebranded as "Bitcoin Development Company" \ stacker news ~bitcoin

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MicroStrategy to Rebrand as Bitcoin Development Company Amid ETF-Driven Demand Surge

According to CoinDesk, during a CNBC interview, Michael Saylor, MicroStrategy's co-founder and executive chairman, highlighted the ETF-driven demand surge for bitcoin, citing its novelty, digital nature, and global appeal. Saylor also said that MicroStrategy will be re-branding into a bitcoin development company, given the success of its crypto focus. He explained that the recent listing of bitcoin exchange-traded funds (ETFs) is pushing up the token's price as there is a massive imbalance in the crypto's supply and nearly a decade of pent-up demand for a retail accessible BTC product.

"There's ten times as much demand for bitcoin coming into these ETFs as there is supply coming from the natural sellers who are the miners," Saylor said. He added that mainstream investors are finally able to access bitcoin, driving the surge of capital in the asset class. Bitcoin is in demand because it's uncorrelated to traditional risk assets and doesn't come with exposure to any given country or company, according to Saylor.

Saylor also revealed that MicroStrategy will be re-branding to a bitcoin development company, reflecting its strategy to accumulate more bitcoin and promote the growth of the Bitcoin network. He compared this move to a real estate or petroleum development company and said that MicroStrategy's model offers greater flexibility than an investment trust, enabling the company to develop software, generate cash flow, leverage the capital market, and accumulate bitcoin for its shareholders while fostering the Bitcoin network.

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1856 sats \ 0 replies \ @elvismercury 17 Feb freebie

It's interesting to think about what this will mean:

reflecting its strategy to accumulate more bitcoin and promote the growth of the Bitcoin network.

Right now, Saylor has a bigger stake in btc's success than anyone on earth. To date we've seen MSTR do a handful of things that might be considered broadly supportive of that success:

a relentless one-man PR campaign and assembling some educational resources
modeling that a corporation can, indeed, credibly have a btc strategy for treasury
hoovering up and locking up an astounding supply of btc

These all seem like useful things to do, although I think #3 is a mixed blessing. What has been absent, as far as I can tell, are less direct kinds of investment -- e.g., shoring up the ecosystem in other ways by investing in key open source dev, unsexy work like testing, funding for litigation, lobbying, etc.

I'm sure there's more going on behind the scenes, but I wonder if this "re-branding" and the changed position of btc in the public arena by virtue of the ETF approval means that MSTR will move into areas of investment --ecosystem support -- that have been thus far ignored? It would have to be an extremely delicate affair, since anything he did could be (and surely would be, by some people) seen as too heavy-handed.

Fun problem to war-game out, though. Wish I had that job :)

10 sats \ 0 replies \ @DiedOnTitan 17 Feb

When @saylor zaps MSTR dividends in sats, then we will have something.

0 sats \ 1 reply \ @DarthCoin 17 Feb

crap news. Saylor only wants your sats. and you will give them all. because you are idiots.