Microstrategy’s Stock Outperforms Bitcoin, S&P500, Nasdaq, Gold, Silver
The stock of business intelligence firm Microstrategy (Nasdaq: MSTR) has risen 206% since the company adopted its bitcoin strategy, Executive Chairman Michael Saylor stated on Twitter Friday.
Key Points:
- Microstrategy adopted bitcoin as its Primary Treasury Reserve Asset three years ago, purchasing 21,454 BTC for $250 million.
- Since then, Microstrategy’s stock has increased by 206%, while bitcoin has seen a 145% increase.
- The S&P 500 has risen 33% and the Nasdaq 25% during the same time period.
- Gold has seen a decline of 5%, and silver has decreased 19%.
- Blackrock, a major shareholder of Microstrategy, owns 8.1% of the company and is trying to launch a bitcoin ETF.
Microstrategy currently holds 152,800 bitcoins, acquired for a total cost of $4.53 billion. The company plans to buy more BTC with stock sales of up to $750 million.
Hot Take:
Microstrategy’s adoption of bitcoin as its primary reserve asset has proven to be a successful strategy, with their stock outperforming not only bitcoin itself, but also other major financial benchmarks such as the S&P 500 and Nasdaq. This demonstrates the growing acceptance and value of bitcoin in the global financial system. With Blackrock’s significant ownership in Microstrategy and their efforts to launch a bitcoin ETF, it further validates the potential of cryptocurrencies as investment assets.
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