U.Today – Michael Saylor, the famous bull, shared the successes of MicroStrategy's cryptocurrency strategy on CNBC. As the price of BTC has increased by an average of 44% per year over the past few years, MicroStrategy, which is among the largest holders of the cryptocurrency, has capitalized on this growth.
The company's stock has surged massively, up 825% since the start of its Bitcoin strategy, outperforming even the parabolic rise of Nvidia (NASDAQ:). With these results, MicroStrategy has successfully outperformed its competitors and gained a significant lead in the entire US stock market, Saylor concluded.
While Saylor's speech received a lot of positive attention, some people still have doubts, especially critics like Peter Schiff, who has been very vocal about his opposition to cryptocurrencies.
Schiff said that while MicroStrategy has performed well this year, its stock is still 40% below its 52-week high and 6% below its 2021 peak. He believes the growth Saylor is excited about may not last and there could be more declines ahead.
MicroStrategy and Bitcoin
MSTR shares are currently trading around $121, up more than 90% since the beginning of the year. Meanwhile, in the case of Bitcoin, the past nine months have seen a 30% increase.
Interestingly, while Saylor was bullish on his own company's stock, he was seen selling MSTR earlier this year, with sales stopping in late April when the share price peaked at $173. More specifically, the price fell by more than 37% that month.
After this, however, the MicroStrategy boss did not make any sales.
Who is right, Saylor or Schiff? Only time will tell, but with every billion dollars invested, the debate becomes more intense, that's for sure.
This article was originally published on U.Today
