As an analyst with over two decades of experience in the tech and financial markets, I must admit that the performance of MicroStrategy (MSTR) under Michael Saylor’s leadership is nothing short of remarkable. The company’s recent outperformance of giants like Amazon (AMZN) and Alphabet (GOOGL) in terms of trading volume is a testament to its growing influence, particularly in the Bitcoin space.
Michael Saylor, co-founder of MicroStrategy, highlighted on the X social media platform that his firm’s shares performed exceptionally well last Friday, even outshining tech giants like Amazon (AMZN) and Alphabet (GOOGL) in terms of trading activity volume.
“Bitcoin makes the Magnificent 8,” Saylor said in his social media post.
During the final trading day of the week, MicroStrategy (MSTR) successfully facilitated a trading volume amounting to approximately $5.8 billion. To put that into perspective, Amazon (AMNZ) and Alphabet (GOOGL) recorded volumes of $5.5 billion and $2.4 billion respectively.
As a crypto investor, I’ve come across the esteemed “Magnificent 7” – an exclusive band of tech titans that stand tall as the undisputed leaders among US stocks. The name for this select group was first bestowed by renowned CNBC host Jim Cramer.
In terms of trading volume, Tesla (TSLA) takes the top spot at a staggering $43.5 billion, while Nvidia (NVDA) follows closely behind with a robust $29 billion.
Apple (AAPL), Microsoft (MSTF), and Meta (META) are also in the top 5.
It’s quite remarkable that MicroStrategy, well-known for being the biggest corporate Bitcoin holder, has surpassed some of the “Magnificent 7” in daily trading volume. This achievement is even more noteworthy given that the company’s market value is just $47.48 billion at present.
MicroStrategy (MSTR) is up more than 22% over the past month alone. Its stock has surged by a staggering 242% on a year-to-date basis, vastly outperforming Bitcoin.
The company’s Bitcoin holdings currently stand at more than $17 billion.
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2024-10-27 22:14