Vortex Brands (VTXB), a Bitcoin mining business, has announced that it will buy MicroStrategy (MSTR) shares. This is a smart move because MSTR stock has done better than the S&P 500.
The purchase, which was announced in a press statement on August 28, includes buying 10 shares at first. The business sees this investment as part of a major plan to take advantage of the difference in value between the value of Bitcoin and the value of corporate public markets.
Bitcoin’s Strategic Investment Rationale
Vortex Brands CEO Todd Higley said that the company’s move was in line with its positive view of Bitcoin and belief that hard assets, including digital assets, are good investments in the current economic climate.
The company MicroStrategy, which is run by Michael Saylor, recently topped the S&P 500, doing better than major companies like Nvidia (NVDA). Saylor talked about MSTR’s progress since August 2020 and said it was because the company had put a lot of funds into BTC .
Even though MSTR stock fell 1% to $140, it has still gone up 104% so far this year and 45% in the last six months.Even though Vortex Brands praises MicroStrategy’s great success, Nvidia is still a strong rival; its stock is up 1% to $128 today.
Nvidia’s earnings report, which is due later today, could tip the scales in its favor. Notably, investors are more interested in the AI-focused cryptocurrency FET, which makes people even more excited about Nvidia’s earnings.
