ByNina Bambysheva,
Forbes Staff.
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ast week bitcoin fell to $82,000, down 35% from its $126,080 October peak. For most big Nasdaq-listed companies, that drop is background noise. For Michael Saylor’s Strategy, the stock market's biggest bull and largest corporate holder of bitcoin, it immediately raises the question of what comes next.
For almost two years, Strategy traded far above the value of its bitcoin holdings—at times 190% higher—turning its stock into a turbo-charged bitcoin bet for most institutional investors. Saylor’s transformation of his Tysons, Virginia-based data mining software company into a masterwork in using traditional corporate finance to harness bitcoin’s volatility has already attracted hundreds of copycats – publicly traded holding companies known as digital asset treasuries (DATs).
