Michael Saylor’s Big Bet on Bitcoin Is Inspiring Copycat CEOs

Investors had pretty much written off Jonathan Ferrari’s fledging meal-delivery company.

His startup, Goodfood Market Corp., had lost 98% of of its value from a Covid-era high, and was a mere penny stock in the cut-throat business of food delivery.

So this year, Ferrari hatched a new plan that he is convinced will turn Goodfood’s stock around: Buy Bitcoin.

“We have a nice core business but it’s too small to be relevant to the capital markets,” Ferrari, 36, said. “I think as we start investing more into our Bitcoin treasury strategy we’ll be able to create more liquidity in ...