The shares of MicroStrategy accelerate after announcing new Bitcoin plans

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The shares of MicroStrategy, the American software company which is known across the Cryptoverse and beyond for using its balance sheet to buy bitcoin (BTC), have accelerated after the firm announced their new Bitcoin plans last Monday.
The company now aims to tap into “the opportunities that are emerging in the Bitcoin economy,” as well as “delivering business intelligence to the Bitcoin blockchain,” MicroStrategy’s CEO Michael Saylor said.
MicroStrategy has seen the price of its shares increase nearly 9% from USD 203.93 recorded last Monday to USD 222.11 this past Friday after announcing its new Bitcoin plans.
The firm is forming a team which would look into the data and analytics products with a particular focus on BTC.
“We’re gonna take Hper.Now [Hyperinteligence, launched on Nov 16] and Intel.Now [Business Intelligence, launching in 2021] and that entire out-of-the-box, multi-tenet SaaS offering, and think about ways to deliver business intelligence that’s of interest to the Bitcoin community and maybe to the greater crypto community as this business evolves,” the CEO said.
Some ideas of interest, said Saylor, include customized BTC apps, blockchain data hyperinteligence, crypto intelligence, as well as “manifesting blockchain data as MicroStrategy data set in our core MCI platform.”
However, they are future plans, rather than something that’s (nearly) ready to be rolled out. “We don’t have any one thing that we’re sure makes sense to commercialize yet,” Saylor said, noting that they “think there’s an entire exploding universe of intelligence opportunities all wrapped around this kind of unique bitcoin intelligence coming off the blockchain. And we’ll explore it all and look for efficient, artful ways to integrate it into our existing business and deploy it.”
However, there is a team allocated to work on this, and “it’s a nearly-formed team that we’re putting in place for this,” said MicroStrategy chief technology officer Tim Lang. He added that they are also recruiting people: “The ability to kind of leverage some of the techniques that Bitcoin has, as well as itself, could actually be key to some of the future modernizations of our platform,” said Lang. “So, there’s the immediate pieces we see, in terms of analytics on Bitcoin, but there’s also how we could potentially leverage the chain at the core of the platform, and we’re evaluating both of those pieces.”
Meanwhile, the firm’s BTC acquisitions were some USD 425m, Saylor said. Since announcing the news in July, added MicroStrategy’s Chief Financial Officer Phong Le, the company has faced “a material upside to our market value,” having bought BTC when it was USD 11,111 on average.
At the time of publication BTC is trading at USD 18,513 having gone up almost 3% in a day, 14% in a week, 42% in a month and rallied by 157% in a year.

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