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Michael Saylor Unveils Why MicroStrategy’s Bitcoin (BTC) Bet Paid Off

Michael Saylor Unveils Why MicroStrategy’s Bitcoin (BTC) Bet Paid Off
Beyond the bout of profit that the business intelligence and software firm has seen in the last few weeks, MicroStrategy’s Bitcoin (BTC) strategy has paid off well. MicroStrategy’s shares (MSTR) have grown to unprecedented heights since the adoption of this strategy.
MicroStrategy (MSTR) Outperforms Bitcoin (BTC)
Michael Saylor, the founder and Chairman of the Bitcoin-friendly firm shared a screenshot of a chart that detailed the performance of MSTR since August 10, 2020, when MicroStrategy adopted the Bitcoin strategy. Accordingly, the chart shows that MSTR shares have outperformed the likes of the S&P 500, Nasdaq, Gold, Silver, bonds, and even Bitcoin. 
MicroStrategy is considered the largest non-crypto holder of BTC, with a portfolio of about 174,530 BTC following its latest acquisition . The firm’s adopted Bitcoin strategy in 2020 came right after the COVID-19 pandemic that shook the business world. Since that time till now, MicroStrategy has constantly purchased the flagship cryptocurrency. An interesting side to this move is that the firm refused to sell its large Bitcoin stash.
Last week, Blockstream CEO Adam Back pointed out that experts are beginning to notice  MicroStrategy’s constantly increasing Bitcoin per share. This was after Ecoinometrics provided insights into MSTR price performance. Back’s call to action for investors at the time was for them to “buy MSTR using BTC.” 
This time around, Saylor is saying “Adopt the Bitcoin standard” as he showcased the performance of MicroStrategy shares against Bitcoin and other major financial assets he would have otherwise opted for. 

Adopt the #Bitcoin Standard. pic.twitter.com/YR1d9jfs7v
— Michael Saylor (@saylor) December 9, 2023

For reference, the chart Saylor shared shows that MSTR has grown by 385% since August 2020 while Bitcoin has jumped by 274%. The duo far outstripped their closest competitor, the S&P 500 which has only recorded a growth of 37%. Nasdaq shares on the other hand have managed to grab a 31% growth.
Gold, Silver and Bonds in the Red
The other assets typically compared to Bitcoin including Gold, Silver, and Bonds have all nosedived and are on the red side of the chart, indicating a decline in their value over time. A glance through this insight underscores Saylor’s verdict that “Bitcoin is stronger.”
Noteworthy, the recent events surrounding Bitcoin including the wait for spot Bitcoin ETF approval from the United States Securities and Exchange Commission (SEC), which has triggered the market value of the coin, has contributed to the MSTR surge. 
At the time of this writing, Bitcoin was trading at $44,034.19, down 0.75%.
The post Michael Saylor Unveils Why MicroStrategy’s Bitcoin (BTC) Bet Paid Off appeared first on CoinGape .

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