MicroStrategy (MSTR) stock outperformed most assets after the company adopted Bitcoin in August 2020.
Shares of tech company MicroStrategy have outperformed those of many major companies.
MicroStrategy Stock Attracts Attention
Despite the collapse in the crypto markets, MicroStrategy’s shares are doing much better than the rest of the market.
According to ETF analyst Eric Balchunas, on his personal Twitter account, MSTR managed to “easily” take down several big companies, including Bitcoin.
It really is wild, $MSTR easily trouncing small, large and btc itself over past two years.. would not have guessed that. https://t.co/jskwq6VPQb pic.twitter.com/0qBMarUSAe
— Eric Balchunas (@EricBalchunas) August 8, 2022
MSTR has managed to achieve 158.65% returns over the past 728 days. Compared to the Russell 2000, which is based on the smallest 2,000 companies, MicroStrategy has revenue of 25.17%. The S&P 500, on the other hand, follows the MSTR with a rate of 27.40%. Interestingly, the return of MSTR compared to Bitcoin is also at the level of 98.28%.
MicroStrategy’s Role in the Bitcoin Rally
MicroStrategy’s adoption of Bitcoin in 2020 opened the door to a rally of the asset. Many leading corporate firms such as PayPal followed MicroStrategy and the asset value exploded.
MicroStrategy stock has managed to surpass 97% of S&P shares after adopting Bitcoin in 2020.
The Company’s Bitcoin Policy Will Continue
Although the departure of the company’s founder, Michael Saylor, from the CEO position raises questions in mind, Saylor announced that he will continue to serve as the head of the board to focus on Bitcoin investments.
Nassim Nicholas Taleb, author of The Black Swan book, interprets Saylor’s decision to resign as a “nail in the coffin” for MicroStrategty’s Bitcoin strategy.
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