U.Today – “If you want to win, you need a strategy” – this is the title of his modern post on X by Michael Saylor, CEO of MicroStrategy and one of the main players in the cryptocurrency market.
Saylor is known for his extremely bullish views on the main cryptocurrency, which he does not forget to confirm with almost daily statements dedicated to Bitcoin on social media, sometimes viral, sometimes unconventional, sometimes shocking and sometimes insightful, which have already become part of the knowledge of the cryptocurrency market.
The last one is more insightful, however, as Saylor charted the performance of MSTR stock compared to other top-performing stocks in the S&P 500, the main U.S. stock market index.
According to him, the MicroStrategy exchange achieved its best performance since August 2020, when the software maker adopted the Bitcoin strategy. By comparison, MSTR is up 1,620% year-to-date, 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 straightforward – buy Bitcoin. As a result of such regular cryptocurrency purchases, the company has become one of the largest holders of Bitcoin in four years, having 252,220 BTC purchased at an average price of $39,292.
Right now, this colossal amount of Bitcoin is netting the company approximately $5.85 billion in unrealized profits.
The result is clearly evident and despite the bear market we have seen throughout 2022 and beyond, Saylor & Co has not stopped buying Bitcoin and this is perhaps an unspoken part of the strategy because you have to be prepared for the hardest times along the way.
