MicroStrategy's shares have surged 1,620%, significantly outpacing major tech companies like Apple and Tesla.
Michael Saylor remains committed to Bitcoin maximalism, rejecting altcoins and increasing his company’s crypto holdings.
MicroStrategy’s market value is closing in on Coinbase, sparking competition between the two crypto-focused firms.
MicroStrategy's bold embrace of Bitcoin has significantly outperformed major tech firms, as its shares skyrocketed 1,620%. Since adopting the cryptocurrency strategy, the company has surpassed renowned players like Apple, Microsoft, and Tesla, showcasing its dominance in the market.
https://twitter.com/saylor/status/1845091805483729155
MicroStrategy Outshines Magnificent 7
MicroStrategy’s shares have been on the rise nationally in an incredible manner surpassing the so-called “Magnificent 7” which consists of such large as Google’s parent company Alphabet, Nvidia, Tesla, etc. Following the Bitcoin-centric approach, it has delivered astonishing growth, which really puts MicroStrategy in a league of its own compared to other tech firms. In addition, its shares were much higher than S&P 500 where growth was only 73%.
Michael Saylor, the co-founder of MicroStrategy, quipped that the only thing better than Bitcoin is more Bitcoin. This joke fits very well with his extreme confidence in the cryptocurrency’s future. Saylor’s focus on NASDAQ: at bitcoin has made MicroStrategy one of the premier players in the digital asset space. Also, the company recently bought more bitcoins, increasing its BTC balance to $15.8 million.
A Rivalry with Coinbase
It is also noteworthy that MicroStrategy has sought to become a direct competitor to Coinbase – one of the largest exchanges for digital assets. Up to $43B in value, MicroStrategy isn’t far behind Coinbase in its growth trajectory. According to Tuur Demeester, a Blockstream advisor, this is competition, noting that MicroStrategy is solely an organization with an emphasis on Bitcoin, different from, say, Coinbase.
A closer look at Saylor’s vision of a Bitcoin Bank
At the heart of MicroStrategy and its future, Saylor’s confidence in Bitcoin has not wavered, only a chance for MicroStrategy to become the trillion-dollar Bitcoin bank. This vision adds to the current Bitcoin maximalism in the company more than any other cryptocurrency firm does.
