MicroStrategy (MSTR) stock has surged by 119% so far this year, outperforming BlackRock's (IBIT) Bitcoin spot ETF, which has gained 35% during the same period. The outperformance of MSTR stock is notable as it shows the continued interest in Bitcoin and cryptocurrency investments. While BlackRock's spot ETF provides a more traditional way to invest in Bitcoin, MSTR offers investors exposure to both Bitcoin and the company's other business ventures, like software development. In addition to its outperformance, MSTR has also secured solid financials this year. The company raised $500 million in a convertible bond offering, which it plans to use to buy more Bitcoin. This gives MSTR the ability to raise capital and continue investing in cryptocurrency, while IBIT is more dependent on direct inflows from investors. Overall, the performance of MSTR stock this year shows the continued strength of Bitcoin and the blockchain industry. It is also a sign of MSTR's ability to capitalize on the growing interest in cryptocurrency.