Business intelligence firm Strategy, which is known as the leading corporate holder of the flagship cryptocurrency, has updated its profile picture.
The updated picture features a Bitcoin logo against an orange background.
Bitcoin advocate Adrian Morris has suggested that Strategy might be gearing up to announce a new purchase in the near future.
As reported by U.Today, Strategy suddenly stopped purchasing Bitcoin last week.
Alex DovbnyaSome commentators have noted that they are still trying to get used to the rebrand.
As reported by U.Today, the business intelligence firm recently underwent a major rebrand, changing its name and logo to showcase its commitment to the Bitcoin strategy.
Meanwhile, the list of MicroStrategy's detractors continues to grow. As reported by U.Today, American entrepreneur and angel investor Jason Calacanis recently predicted that Strategy's Bitcoin bet would ultimately fail. However, he has stopped short of actually shorting the stock.
The shares of the recently rebranded firm were down by more than 7% on Friday in the aftermath of the devastating Bybit hack. They are now down nearly 20% over the past month. It is worth noting that the company stole the spotlight in 2024 with its immense gains that shocked the investment world.
Godfrey BenjaminMicroStrategy's total Bitcoin holdings currently stand at 478,740 BTC, according to the most recent data.
Meanwhile, co-founder Michael Saylor is encouraging the U.S. government to create a strategic Bitcoin reserve. The cryptocurrency mogul believes that buying Bitcoin would make it possible to eliminate national debt.
Other companies are now also using MicroStrategy's playbook for purchasing Bitcoin. However, it remains to be seen whether it will end up being a broader trend.
Dan Burgin
Vladislav Sopov