MicroStrategy Drops $250 Bitcoin Jordans. But You Can’t Buy With Crypto

MicroStrategy has released its own line of Nike Air Jordans, priced at $250 each, in its online shop. Michael Saylor's firm uses merchandise to back up its Bitcoin advocacy. However, Nike's value has plummeted by nearly half in the last year. The online store features 53 items, ranging from Bitcoin shoelaces to Nike Dunks, but the checkout process only accepts traditional payment methods.

Despite the company's heavy investment in Bitcoin, it doesn't accept crypto payments at its retail outlets. Even so, MicroStrategy has seen substantial growth, with its MSTR stock surging 45% in a single month. Smaller corporations are emulating MicroStrategy's approach, and the merchandise serves as a recruitment strategy. Nike's stock has lost 48.63% over the past year and is now trading at $38.40.

The company's revenue is expected to decline slightly this fiscal year, and its performance in Greater China remains concerning. Nike's CEO, Elliott Hill, has grown disillusioned with the company's current situation, stating that he wants to focus on driving growth. While this limited release of Nike sneakers may generate buzz, it won't be enough to address the deeper issues facing the company.