Four years ago, MicroStrategy shifted its focus and started using Bitcoin as a chief treasured asset, a significant leap for the company
First considered dangerous, MicroStrategy’s Bitcoin bet has resulted in the firm surpassing 499 out of 500 S&P 500 stocks.
The decision to adopt Bitcoin revolutionized MicroStrategy’s market standing and redirected its financial trajectory, attracting investors and participants.
Four years ago, a business intelligence firm out of America known as MicroStrategy made a new benchmark by adopting Bitcoin as its main treasury management asset. Michael Saylor’s affiliated entity embarked on an ambitious campaign on August 11, 2020, that would redefine the firm’s financial destiny.Such a decision was shocking, especially given that the company's stock has remained flat for quite some time.
However, this was one of MicroStrategy's most significant strategic decisions many years later and has been very good for its shareholders. Before it gets any later, MicroStrategy's co-founder Michael Saylor had some exciting news for his followers – it was the fourth anniversary of the company's Bitcoin acquisition.
https://twitter.com/saylor/status/1822604650593349832 A Daring Step During Uncertain Times
MicroStrategy is an American based company that was established in 1989 and benefited from the dot com bubble of the 1990s. The company went public in 1998 and its shares rose significantly and then stabilized in February 2000 due to the cheating in revenues and accounting fraud.
This scandal was associated with the new guidelines of the SEC that led to deep financial losses for both Saylor and the company. MicroStrategy’s shares remained depressed for almost two decades, failing to regain their reliability and value.
The investment in Bitcoin in 2020 became a significant turning point in Saylors’ strategy. Thus, by adopting Bitcoin as its reserve currency, MicroStrategy sought to mitigate inflation and declining fiat currencies’ value. However, shifting to this model was initially perceived as risky, but it has proved profitable in the long run. On the fourth anniversary of this strategy, MicroStrategy ranks 499 out of 500 S&P 500 stocks.
Accepting Bitcoin has brought new life to MicroStrategy stock and changed the company's position on the market. This move has raised eyebrows from investors and other industry players, making it a defining moment for the firm. This is strong evidence of this strategy since more people view Bitcoin as a financial asset and appreciate the result of taking risks.
The post MicroStrategy’s Stock Rebound: Saylor’s Bitcoin Bet Celebrates 4 Years of Success appeared first on Crypto News Land.
