Investors Are Piling Into This Hot New SPAC Stock Taking on MicroStrategy. Should You Follow Their Lead?
This company copies Strategy without the unnecessary burden of an actual business.
Strategy (NASDAQ: MSTR), formerly known as MicroStrategy, has transformed itself from an enterprise software provider to a Bitcoin (CRYPTO: BTC) treasury over the last few years. The company's software business has taken a back seat to CEO Michael Saylor's efforts to accumulate more and more Bitcoin every week. He's even compared his company's stock to a leveraged Bitcoin ETF back in 2022.
The stock has attracted quite a following, especially as Bitcoin has soared in value over the last five years. Now, another company wants to copy Saylor's playbook and build a business focused exclusively on accumulating Bitcoin for shareholders. It will go public via SPAC, and investors are already piling into it in anticipation.
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