As a seasoned researcher with over two decades of experience under my belt, I must admit that Michael Saylor’s recent tweet and the subsequent performance of MicroStrategy have caught my attention. Having closely followed the tech industry’s evolution and its impact on global economies, I find it intriguing to see a company like MicroStrategy outperform some of the most prominent tech giants using Bitcoin as their strategic asset.
Michael Saylor, an ardent advocate for Bitcoin and the co-founder of MicroStrategy, a prominent business intelligence company, recently shared a tweet highlighting how MicroStrategy outperformed other major global corporations due to Bitcoin.
Saylor’s winning “Bitcoin strategy”
Michael Saylor recently shared a chart highlighting the outstanding results Bitcoin has achieved compared to various other assets. Similarly, his company, MicroStrategy, has outperformed notable tech giants like Microsoft and Amazon in terms of their overall performance.
Saylor posted on Twitter: “A smart approach involves a #Bitcoin investment strategy.” As illustrated, since MicroStrategy’s first Bitcoin purchase on August 10, 2020, the value of Bitcoin has skyrocketed by an impressive 442%, far surpassing other significant market indicators such as the S&P 500 (64% growth), Nasdaq 100 (60% rise), gold and silver (19% and -1% respectively), and bonds (-18%).
The best strategy is a #Bitcoin Strategy.
— Michael Saylor⚡️ (@saylor) August 1, 2024
Regarding the stock market’s growth, MicroStrategy’s share price soared an astonishing 1,206%, outpacing tech industry leaders such as Nvidia (948% increase), Tesla (145%), Google (131%), Microsoft (101%), Meta, Netflix, and Amazon.
The exceptional lead that MicroStrategy maintains in performance is primarily due to its consistent Bitcoin acquisitions, which it keeps on its financial records. Moreover, on a few occasions throughout the last couple of years, MicroStrategy procured Bitcoin using funds obtained from investors through the sale of convertible senior notes. This strategy has been employed not once but twice this year alone.
Additionally, Saylor has consistently advocated for Bitcoin across various platforms since August 2020, most notably on his personal account on the X social media network. Over the last year, he’s shared daily posts featuring AI-generated images related to Bitcoin accompanied by a brief motivational quote.
Bitcoin price reclaims $65,000 briefly
In the past day, Bitcoin, the leading digital currency, has surged over 4% and regained the $65,000 mark, pushing further up to around $65,300.
Initially, there was a surge that increased Bitcoin’s value, but subsequently, a drop occurred which decreased its price by about 2%. This dip brought the price back close to $64,000. At present, Bitcoin is being traded at approximately $64,280.
The surge and subsequent dip in Bitcoin occurred concurrently with the Federal Reserve’s choice to maintain interest rates unchanged. Earlier in the year, Chair of the Federal Reserve, Jerome Powell, expressed on numerous occasions his expectation that the Fed would reduce interest rates.
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2024-08-02 11:58