As a seasoned researcher with a deep interest in both technology and finance, I have been closely monitoring the remarkable performance of Microstrategy (MSTR) and its significant outperformance compared to Bitcoin over the past year.
Microstrategy, the globe’s leading Bitcoin stockpiler with MSTR shares, experienced a 15% increase in value during Monday’s market session, closing at $1,611. This upward trend came after Bitcoin’s price jumped to $65,000, granting it significant double-digit growth over the past three trading sessions.
MicroStrategy Outperforms Bitcoin
Over the past year, Microstrategy (MSTR) has surpassed Bitcoin in terms of growth at every turn, and this trend persists currently. For instance, whereas Bitcoin’s price has risen by over 13% in the previous week, MSTR shares have experienced a more significant increase – approximately 22% – over the last five trading sessions.
Starting from early 2022, the value of MSTR shares has soared by an impressive 135%, contrasting Bitcoin’s growth of 44% within the same timeframe. Likewise, on a yearly basis, the MSTR stock boasts a substantial increase of 258%.
As an analyst, I’d say: I’ve noticed that MicroStrategy’s impressive recent outperformance can be attributed to its substantial Bitcoin holdings on the balance sheet. Notably, the company has also recently implemented a 10-for-1 stock split to make MSTR shares more accessible to investors following their significant price increase over the last year. Since MicroStrategy made the decision to include Bitcoins in its reserves, its stock performance has surpassed some tech industry heavyweights like Nvidia (NASDAQ: NVDA).
To outperform $NVDA – get on the #Bitcoin Standard.
— Michael Saylor (@saylor) July 15, 2024
In the wake of the crypto market’s recent upturn, fueled by a robust surge on the New York Stock Exchange, companies such as Coinbase (COIN) and Marathon Digital (MARA) have experienced significant growth.
Crypto firms Adopt the Bitcoin Playbook
Small and mid-sized companies, inspired by MicroStrategy’s achievement, are now considering adding Bitcoin to their balance sheets as a potential way to increase their stock prices. Metaplanet, often referred to as Japan’s MicroStrategy, has purchased 225 Bitcoins over the past two months during price declines. Consequently, Metaplanet’s share price has experienced a significant rise of approximately 500%.
During a recent interview on CNBC, Abra CEO Bill Barhydt shared that many midcap companies and even nonprofits have expressed interest in Abra’s new separately managed accounts for holding crypto following MicroStrategy’s lead. He explained, “We’ve noticed an influx of inquiries from various organizations since our announcement regarding the new investment advisor accounts for cryptocurrencies. This model resonates with them.”
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2024-07-16 10:08