According to U.Today, Michael Saylor, cofounder of MicroStrategy, has revealed the reason behind his company's impressive performance, surpassing Nvidia, Tesla, and Amazon over the past four years. Saylor, who recently stepped down as CEO but remains the executive chairman, shared a chart showing that since August 10, 2020, MicroStrategy’s share price has surged by 1,203%. In comparison, Nvidia's share price increased by 1,050%, Tesla by 167%, Amazon by 22%, and Apple by 108% during the same period.
Saylor attributed this remarkable growth to MicroStrategy's adoption of the Bitcoin strategy. The company has been steadily purchasing Bitcoin since August 2020 and currently holds 226,331 Bitcoins valued at approximately $7.538 billion. This year, MicroStrategy announced debt offerings in March and June to raise additional funds for more Bitcoin purchases. Initially, the company aimed to raise $500 million through convertible senior notes but later increased this figure to $700 million.
In related news, popular crypto tracker Whale Alert has identified two significant Bitcoin transactions, each worth several billion U.S. dollars. The first transaction involved 44,000 BTC valued at $2.8 billion, transferred from an unknown wallet to another unknown wallet. This transaction is believed to be linked to the now-defunct cryptocurrency exchange Mt. Gox, which is preparing to compensate its creditors following the 2014 hack. The second transaction involved 48,641 BTC worth $3.06 billion, also transferred between unknown wallets. Additionally, a smaller Bitcoin Cash transfer of 92,967 BCH worth $34.6 million was spotted, likely related to Mt. Gox's repayment plans.
These massive Bitcoin movements highlight the ongoing activity and significant transactions within the cryptocurrency market, reflecting the continued interest and investment in digital assets.