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Hey Waivly Crew! 🌊 In today’s edition, we’ve got a variety of topics to explore.

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Here’s what’s on the horizon today:

• Spotify celebrates first full year of profitability

• Amazon announces hardware event for Feb. 26

• MicroStrategy rebrands to ‘Strategy’ and adopts Bitcoin logo

• BlackRock prepares to launch Bitcoin ETF in Europe

Let’s dive in!

STORIES MAKING A SPLASH

^_FINANCE
Spotify celebrates first full year of profitability

Spotify raked in enough cash and new subscribers in 2024 to celebrate its first full year of profitability since its 2008 launch. The company reported net profits of €1.14 billion (around $1.17 billion), compared to a €532 million loss last year, marking a major financial milestone.

Revenue surged to €15.6 billion ($16.1 billion), fueled by an 11% rise in Premium subscribers, from 236 million to 263 million, while monthly active users grew 12%, reaching 675 million. This growth came despite raising Premium prices twice in less than a year.

Spotify also introduced new AI-powered playlists and audiobook features, but still no word on the long-awaited lossless streaming option. The company’s strong financials and subscriber gains underline its continued dominance in streaming.

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Amazon announces hardware event for Feb. 26

Amazon is hosting a devices event on February 26 in New York City, with hardware chief Panos Panay leading the presentation. The event will begin at 10 AM ET, though the invitation offers few details, featuring only the date, Amazon logo, and the tagline "See what's next."

While it's unlikely Amazon will unveil new Kindles after their recent refresh, the event could spotlight the long-awaited next-gen Alexa, delayed from last October. Technical challenges, including issues with generative AI accuracy, have reportedly delayed the reveal.

If Alexa is the star of the event, new audio products like Echo speakers and Echo Buds might also be showcased. We could also get a glimpse of Amazon's pricing for the premium version of Alexa.

WEB3 SPECIAL

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MicroStrategy rebrands to ‘Strategy’ and adopts Bitcoin logo

MicroStrategy, the software company known for its massive Bitcoin investments, is rebranding to align with its crypto pivot. Now called “Strategy,” the company positions itself as the world’s largest Bitcoin Treasury holder, with over $45 billion in Bitcoin assets since 2020.

The rebrand features a new logo using the Bitcoin “₿” symbol and a bright orange color scheme representing energy, intelligence, and Bitcoin. Executive chairman Michael Saylor highlighted that the name change simplifies the company to its strategic core.

Since 2020, Strategy has aggressively invested in Bitcoin, now holding over 471,000 BTC. The company’s stock has surged 565% in the past year, largely due to Bitcoin’s rise. Recently added to the Nasdaq-100, it’s become a proxy for investors seeking exposure to Bitcoin’s price without directly holding it.

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BlackRock prepares to launch Bitcoin ETF in Europe

BlackRock, the world’s largest asset manager, is preparing to launch a Bitcoin exchange-traded product (ETP) in Europe, following the success of its U.S. Bitcoin ETF, iShares Bitcoin Trust (IBIT). The IBIT fund, launched in January 2024, quickly attracted over $57 billion in assets, becoming the most popular Bitcoin ETF in the U.S.

The new European ETP will be based in Switzerland and could start marketing as soon as February. This marks BlackRock’s first Bitcoin ETP outside North America, adding to its vast portfolio, which includes $4.4 trillion in assets across various ETPs.

Building on IBIT’s success, BlackRock recently launched a Bitcoin ETF on Cboe Canada, expanding access for international investors. U.S. Bitcoin ETFs experienced more than $35 billion in net inflows in 2024, showing growing demand for crypto investment products.

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