The post Strategy’s Bitcoin Play Inspires Risky Copycats in Business appeared on BitcoinEthereumNews.com.

As companies face stagnation and declining revenues, some turn to an unconventional strategy to regain investor interest—buying Bitcoin (BTC). Firms are now trying to emulate MicroStrategy (now Strategy), whose Bitcoin accumulation commitment continues to place it on the leaderboard. Bitcoin Becomes A Quick Fix for Fading Businesses Rather than reinvesting in their core operations, firms like Goodfood Market Corp are using Bitcoin as a financial maneuver to create buzz around their stocks. According to Bloomberg, Goodfood CEO Jonathan Ferrari once led a promising meal-delivery startup. However, the company’s stock plummeted 98% from its pandemic-era highs. Ferrari then sought a drastic measure, investing corporate funds in Bitcoin, to reinvigorate investor interest. “We have a nice core business, but it’s too small to be relevant to the capital markets. I think as we start investing more into our Bitcoin treasury strategy, we’ll be able to create more liquidity in our stock and attract investors,” Bloomberg reported, citing Ferrari. According to Bloomberg, this tactic centers on the hope that these firms will replicate the success of Michael Saylor’s Strategy. Meanwhile, Goodfood is not alone; dozens of public companies are following in Saylor’s footsteps with their Bitcoin strategies. The report cites firms in social media, video gaming, and even coal mining that divert corporate cash to invest in Bitcoin. Further, some firms, like Semler Scientific, borrowed funds to invest in the pioneer crypto. Recently, BeInCrypto reported that GameStop is mulling a Bitcoin investment. The American video game retailer’s pivot to BTC is motivated by the need for financial stability. “GameStop, a company with no viable business plan, has thrown another Hail Mary by announcing that it might use its cash to buy Bitcoin. The irony is that Bitcoin is even more overpriced than GME. No matter; speculators are buying the stock anyway, hoping it becomes another…

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Filed under: News - @ February 20, 2025 11:24 am