#Chia cryptocurrency ticker symbol software#

There are subtle items such as the release referring to ‘bitcoin’ as opposed to BTC and therefore not identifying which bitcoin chain they are referring to. The press release, however, does read somewhat like it was written by a crypto-novice. The crypto seems likely to become a far greater contributor to the company’s stock price than growth rates. It is a bold move for a publicly listed company to essentially allocate ~20% of the company’s assets towards BTC. Takeaway: The announcement comes as a surprise for crypto practitioners in that it is a massive leap above what any publicly listed entity has committed in crypto (Square would be the firm that has any argument to say otherwise). The press releases cited considerations such as inflation protection versus fiat alternatives as the primary justification for the move. The characterization seems to imply that MSTR will be an ongoing buyer of BTC with net income in 2019 of $34M. In the announcement, MSTR, which had been discussing what to do with excess capital, will make ‘bitcoin’ their, ‘Primary Treasury Reserve Asset,’ meaning it will be their largest treasury investment.

The firm’s market cap is USD 1.3B and shares rallied +9% on the back of the news. Saylor and Sanju Bansal in 1989, Saylor remains the CEO. The company, headquartered in Virginia, was founded by Michael J.

#Chia cryptocurrency ticker symbol software#

MSTR is a US-based technology services company operating in the sub-sectors of business intelligence, mobile software and cloud-based services.

Volumes dipped slightly as well, yet are still trending above 30 day spot averages.Įarlier this week, NASDAQ-Listed Technology Company Microstrategy (NASDAQ: MSTR) Announced That They Had Invested USD 250M In BTC As Part Of A New Capital Allocation Strategy – The Firm Further Referred To The News As Making BTC Their, ‘Primary Treasury Reserve Asset’ – In This Announcement, MSTR Has Arguably Made Itself The Most Important ‘Traditional’ Company To The Crypto-Space Globally ETH saw its first weekly decline in over 5 weeks, and BTC only saw its 2nd decline in that same time period. Analysis: Crypto saw a dip overall in the 7 day period, mostly happening in the past 48 hours.