Michael Saylor’s Rebranding

Michael Saylor has undergone another rebranding, this time with minimal commentary. In a post captioned “Be Different,” he shared a sleek, minimalist portrait reminiscent of Steve Jobs: a black turtleneck, silver hair, and no distractions—just the image of a man whose $21 billion stake in Bitcoin continues to grow.

The timing of this rebranding is significant. As of June 22, Strategy holds 592,345 BTC valued at over $63 billion, reflecting a 50.92% unrealized gain on their average purchase price of $70,681. The company has been actively accumulating Bitcoin, adding over 16,000 BTC in June alone, including a notable purchase of 10,100 BTC last week. Despite Bitcoin trading above $102,000, Saylor remains unfazed and added another 245 coins this week.

On the market front, Strategy’s performance resembles that of a Bitcoin ETF rather than a traditional tech firm. Shares are currently trading at $377, with a market cap of $105.3 billion, where 60% of that value comes from BTC. Investors are demonstrating confidence in Saylor’s strategy, as indicated by a NAV multiple of 1.667, preferring it over spot ETFs.

For Saylor, Bitcoin transcends being merely a commodity; it embodies an identity. The visual homage to Steve Jobs reinforces his commitment as not only Bitcoin’s most outspoken corporate advocate but also as a person who views cryptocurrency as a mission.