U.Today – “If you want to win, you need a strategy”: this is how Michael Saylor, CEO of MicroStrategy and one of the main players in the cryptocurrency market, titled his new post on X.
Saylor is known for his extremely optimistic views on the leading cryptocurrency, which he does not forget to confirm with almost daily Bitcoin-centric statements on social media, sometimes viral, sometimes unconventional, sometimes shocking and sometimes revealing, which have already been reported. have become part of the tradition of the cryptocurrency market.
The latest one, however, is more telling, as Saylor compared MSTR stock's performance to other high-performing stocks in the S&P 500, the main US stock market index.
According to him, MicroStrategy had its best stock performance since August 2020, when the software maker adopted the Bitcoin strategy. To put this in perspective, MSTR is up 1,620% so far this year, while its closest competitor, Nvidia (NASDAQ 🙂, is up 1,107%, and that's despite all the hype around artificial intelligence.
bitcoin strategy
The essence of MicroStrategy and Saylor's approach is simple: buy Bitcoin. As a result of these regular purchases of the cryptocurrency, the company has become one of the largest Bitcoin holders in four years, with 252,220 BTC on its books, purchased at an average price of $39,292.
At the moment, this colossal amount of Bitcoin brings the company around $5.85 billion in unrealized profits.
The result is clear to see, and despite the bear market that we have seen throughout 2022 and beyond, Saylor & Co has not stopped buying Bitcoin, and that is perhaps the unspoken part of the strategy, since you have to be prepared for the most difficult. times along the way.
This article was originally published on U.Today.
