The well-known tech firm, MicroStrategy, has been deeply investing in Bitcoin, leading to a comparable nickname 'Asia's MicroStrategy' for Metaplanet, which is also investing heavily. Experts at TD Cowen believe that potential Bitcoin upswings could notably impact MicroStrategy's stock. The company's implementation of a Bitcoin-based Decentralized ID drew attention, even during their Q1 losses of $53.1M, fueled by a Bitcoin buying spree. Bitcoin advocate Michael Saylor reaped significant profits due to this strategic direction, profiting $370M from MicroStrategy stock sales. The corporation now holds more than 1% of all Bitcoin, moving towards integrating the BlockDAG Network. They recently announced a plan for a 'Decentralized ID' on Bitcoin using Ordinals. However, some eyebrows were raised when the stock plummeted by 18% on a Tuesday, though a potential inclusion in the S&P 500 with new accounting rules could bolster their standing. MicroStrategy now holds $13.6B in Bitcoin, 1% of the total supply, and is expected to continue to buy more Bitcoin despite market volatilities.
Microstrategy News Analytics from Tue, 06 Feb 2024 08:00:00 GMT to Sat, 11 May 2024 11:36:27 GMT - Rating 3 - Innovation 5 - Information 9 - Rumor -3