Industry 2 min, 3 sec READ

by Mike Dalton

The company is emphasizing its Bitcoin strategy as it continuously increases its crypto holdings.

MicroStrategy announced that it is now doing business as Strategy₿ and unveiled a new logo that emphasizes its increasing involvement with Bitcoin.

The rebrand makes two significant changes. First, it includes a stylized Bitcoin symbol (₿). Second, the formerly red logo is now orange, representing “energy, intelligence, and Bitcoin,” according to the company.

Strategy's website and brand previously forefronted its AI and business intelligence solutions, which it continues to offer to its clients.

Some commentators believe the shift carries risk. Melody Brue, VP and principal analyst at Moor Insights & Strategy, said that the rebrand "signals a dedication" to keeping up with online finance but could distract the firm's existing customers.

Strategy continues to maintain its MicroStrategy trademarks.

Strategy Bought $20B BTC in Q4

MicroStrategy's rebranding announcement came alongside financial results detailing the company's latest purchase of Bitcoin for its balance sheet.

Strategy's Chief Financial Officer Andrew Kang said the company had purchased 218,887 BTC for $20.5 billion since the end of Q3 2024, with Q4 marking the company's largest ever increase in quarterly Bitcoin holdings.

Later, on Feb. 10, Strategy Executive Chairman and co-founder Michael Saylor said the firm had bought another 7,633 BTC for $742.4 million.

At the time of its Feb. 5 press release, the firm held 471,107 BTC. The later purchase brought its holdings to 478,740 BTC, worth about $46 billion at the time.

MSTR Is the Largest Public BTC Holder

Strategy is the publicly traded company with the most BTC by a wide margin.

Based on data from BitcoinTreasuries, Strategy owns about 10.5 times as much Bitcoin as the next largest BTC holder, Marathon, which holds just 45,659 BTC.

Other top holders include Riot (18,221 BTC), Tesla (11,509 BTC), Cleanspark (10,556 BTC), Hut 8 (10,208 BTC), and Coinbase (9,480 BTC). Asset managers that reserve Bitcoin for exchange-traded funds are listed and ranked separately.

Strategy’s sizable holdings mean that it controls 2.28% of the entire Bitcoin supply, which is capped at 21 million BTC, per BitcoinTreasuries data.

Strategy acknowledges its status as a major Bitcoin holder in its press releases: it refers to itself as “the world's first and largest Bitcoin Treasury Company” and calls Bitcoin its “primary treasury reserve asset."

The company's stock (MSTR) also saw notable advances toward the end of 2024 as its value multiplied several times over. The stock entered the Nasdaq 100 in December and has a market cap around $81 billion as of Feb. 13.