The rebranding of business intelligence (BI) platform vendor MicroStrategy that will see the firm aggressively plug Bitcoin comes with significant risks as a result of the digital currency’s “volatility and the regulatory uncertainties surround the cryptocurrency market,” an industry analyst said Thursday.
The organization will now be known as Strategy, and, according to a release, as well as focusing on BI, it will also be “the world’s first and largest Bitcoin Treasury Company.” In addition, it introduced a new logo that “includes a stylized ‘B,’ signifying the company’s Bitcoin strategy,” as well as a new merchandise store.
Melody Brue, vice president and principal analyst at Moor Insights & Strategy, said, “the rebranding reflects the company’s commitment to integrating Bitcoin as a core aspect of its identity and future direction, shifting the company from a purely software-focused entity into a hybrid investment vehicle combining software and Bitcoin.”
