MicroStrategy’s chairman, Michael Saylor, has applauded the company for outperforming Apple, Microsoft, and Amazon since August 2020. The business intelligence company adopted its Bitcoin buying strategy about three years ago. Since then, the company’s stock has outperformed even the most prominent names globally.
In his tweet, Michael Saylor compared the MSTR stock performance with some key assets and indices. The billionaire investor also compared MSTR with the big tech stocks and enterprise software stocks. Interestingly, the MSTR stock has outperformed all other assets in the comparison.
Since August 2020, AAPL, MSFT, and GOOG have increased by 51%, 48%, and 45%, respectively. On the other hand, META, NETFLIX, and AMAZON have been down by 9%, 32%, and 33%, respectively. These values are a big contrast to MSTR’s amazing 166% increase.
Michael Saylor’s recent report aligned with the company’s first-quarter report. The company’s Chairman also announced that it would be hosting a live video webinar to discuss its 2023 financial results.
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MicroStrategy’s Stock (MSTR) Also Outperforms Bitcoin, Gold, and Silver
From August 10, 2020, till date, the MSTR stock has been up by 1.66X. Despite Bitcoin’s positive price action over the years, the MSTR stock still outperformed BTC. Bitcoin has only been up by 143%.
Microstrategy stock also outperformed S & P 500 and Nasdaq by a more significant margin. S&P 500 has been up by 24%, while Nasdaq has been up by only 11% since MicroStrategy started buying Bitcoin. On the contrary, assets like Gold, Silver, and Bonds have had a negative price change. Gold is down by 2%, Silver is down by 11%, while Bonds are down by 16% since the said date.
Bitcoin Currently Trades Below MicroStrategy’s Average Buy Price
Although MicroStrategy’s stock price has appreciated significantly since the company took a keen interest in Bitcoin, BTC still trades below the company’s average buy price. Bitcoin is currently valued at $28,300, while MicroStrategy purchased its cumulative BTC holdings at an average price of $29,803.
Notably, the company came under intense fire in the later part of last year when Bitcoin’s value collapsed. In 2022, Bitcoin fell from the $45,000 range it started the year with to as low as $15,000. At that point, MicroStrategy had a huge potential loss in its book. Despite that, though, Michael Saylor reiterated on several occasions that the company would not sell its flagship asset.
The company’s diamond hands seemed to have paid off, as Bitcoin is now almost 100% above its 2022 low. MicroStrategy now has 138,955 Bitcoins, and the company still has plans to acquire more.
