The MicroStrategy copycats: companies turn to bitcoin to boost share price

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It also had $46mn in cash and cash equivalents at the end of September.“Success breeds imitators,” said Mark Palmer, senior equity research analyst at research and investment banking firm The Benchmark Company.“Companies that have seen their stock struggle . . . often because their business models are not particularly compelling in the eyes of many investors, they have opted to follow MicroStrategy’s lead,” he said.

The Financial Accounting Standards Board said that bitcoin should be measured at fair market value on a company’s balance sheet and counted as net income.

Saylor too has accelerated his company’s bitcoin purchases and in November laid out an ambitious three-year goal to raise $42bn in debt and equity to fund more buying.

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Article Details

Author / Journalist: Nikou Asgari

Category: MarketsFinanceInvesting

Markets: United StatesJapan

Topics: Companies Financial Treasury Share Business Bitcoin Buying Company Saylor Company’s Market

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-05 @ 04:00:08 (15 hours ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 1098 words

Reading Time: 7 minutes read

Sentences: 41 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 25902905

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