Bitcoin-backed MicroStrategy outperforms Nvidia, posts big gains
As expected, MicroStrategy topped the list with a massive 1,113% gain.
In comparison, Nvidia came in second with a 1,059% gain, despite benefiting greatly from the AI ââboom.
Nvidia overtook Microsoft in June to become the worldâs most valuable company, and is the backbone of many AI tools, including ChatGPT.
In third place was Arista Networks, a Santa Clara-based computer networking company, which saw a 539% growth, thanks to the growing interest in the AI ââhardware market.
The company announced a partnership with Nvidia earlier this year, which has boosted its performance.
Cantor Fitzgerald, a US financial services giant, recently revealed an optimistic price target for MicroStrategy stock of $194.
The companyâs stock is a leveraged investment in Bitcoin, unlike Bitcoin ETFs.
Earlier this month, the Securities and Exchange Commission approved a new fund linked to MicroStrategy.
In addition, MicroStrategy (MSTR) stock became part of the MSCI World Large and Mid-Cap Index this year.
