U.Today – Michael Saylor, co-founder and CEO of MicroStrategy, made a bold statement that resonated with the cryptocurrency community – the amount briefly surpassed $65,000.
Bitcoin’s price hit $65,000 for the first time in almost three weeks, boosted by renewed demand for U.S. exchange-traded funds amid concerns that the Federal Reserve was preparing to ease monetary policy.
The largest digital asset hit a peak of $65,050 in Sunday trading before falling below $64,000 on Monday. Bitcoin is up more than 10% since last week, its biggest gain since mid-July.
Saylor stated in X’s post, “Four years on Bitcoin Standard and you would have outperformed every company in the S&P 500.”
The tweet was accompanied by an image showing MicroStrategy’s stock performance compared to other S&P 500 stocks since the company adopted a bitcoin-based strategy in August 2020. The data highlighted MicroStrategy’s remarkable lead over its peers, outperforming massive names like Nvidia (NASDAQ:) and Marathon Oil (NYSE:).
MicroStrategy, one of the first public companies to adopt Bitcoin as its primary treasury reserve asset, has seen significant gains since its Bitcoin journey began.
Saylor’s tweet alongside the image showed how MicroStrategy’s stock has significantly outperformed major players like Nvidia, Marathon Oil and other S&P 500 stocks over the past four years, aided by its Bitcoin-based strategy.
$252M in net inflow as Bitcoin surges
Federal Reserve Chairman Jerome Powell on Friday gave the clearest indication yet that the central bank may be on track to cut benchmark interest rates from their highest level in more than two decades, suggesting more favorable liquidity conditions for global markets.
Bitcoin prices surged following Powell’s speech, reaching a peak of $65,050 in Sunday’s trading session. At the time of writing, bitcoin was down 0.06% in the previous 24 hours to $63,930.
Powell’s signal prompted a net inflow of $252 million into a group of a dozen U.S. spot bitcoin ETFs on the same day, the largest amount in more than a month, according to Bloomberg data. The funds have received inflows for seven consecutive days.
