MicroStrategy, the tech powerhouse renowned for its Bitcoin-friendly stance, has witnessed an unprecedented surge in its shares (MSTR), attributed to its strategic adoption of Bitcoin (BTC) since August 2020. This move has positioned the firm’s shares at remarkable heights, surpassing major financial benchmarks.
In a recent X post, Michael Saylor, the founder and chairman of MSTR, presented a chart that demonstrated the remarkable success of the company since the implementation of their Bitcoin strategy. The chart showed that the value of MSTR shares has exceeded the performance of Bitcoin and other traditional assets such as the S&P 500, Nasdaq, Gold, Silver, and bonds.
MicroStrategy has solidified its position as the largest non-crypto holder of BTC, amassing approximately 174,530 BTC through continuous acquisitions. The firm has retained its considerable Bitcoin holdings, refusing to part ways with them.
Blockstream CEO Adam Back drew attention to the increasing Bitcoin per share ratio within MicroStrategy, prompting experts to recognize the company’s upward trajectory regarding MSTR price performance. Back even urged investors to consider “buying MSTR using BTC” given this trend.
MicroStrategy Emphasized Bitcoin Standard
Saylor stressed the importance of transitioning to the “Bitcoin standard.” He compared the performance of MicroStrategy shares with Bitcoin and other traditional financial assets, highlighting Bitcoin’s superior resilience and growth.
According to Saylor’s shared chart, since August 2020, MSTR has surged by a staggering 385%, surpassing Bitcoin’s impressive 274% surge. These figures stand head and shoulders above the S&P 500 and Nasdaq, which have only seen 37% and 31% growth during the same period.
On the other hand, traditional assets like gold, silver, and bonds have declined, presenting a bleak picture on the financial charts. Saylor’s affirmation that “Bitcoin is stronger” echoes this narrative, further cementing the cryptocurrency’s prominence.
At the time of reporting, Bitcoin’s price stands at $43,617, reflecting a minor 0.48% decline in the last 24 hours but boasting a substantial 10.50% surge over the past week.
Source: TradingView
The anticipation for a spot Bitcoin ETF approval by the United States Securities and Exchange Commission (SEC) has significantly contributed to Bitcoin’s market value. This anticipation has further fueled MicroStrategy’s surge in the financial markets, consolidating the company’s position amidst the cryptocurrency’s burgeoning influence.