April 22, 2024

MicroStrategy Stock Has Crushed Nvidia, Meta and Even Bitcoin This Year

  • MicroStrategy’s stock has soared over 300% this year, outperforming tech giants like Nvidia and Meta.
  • Those gains outpace even those of bitcoin, which has soared 152% this year.
  • MicroStrategy now owns over $7 billion worth of bitcoin, or over 174,000 tokens, worth 90% of their market cap.

MicroStrategy stock has outperformed high-flying tech giants this year and even bitcoin as the company’s big crypto bet has paid off.

Since 2020, MicroStrategy has accumulated 174,530 bitcoins, according to CNBC, with the stockpile currently worth about $7.4 billion.

That’s as the price of bitcoin has soared about 152% this year on hopes of a spot ETF approval, an upcoming halving event, and broad market optimism. 

Meanwhile, MicroStrategy stock has more than doubled bitcoin’s gain, surging 319% this year and outperforming tech giants like Nvidia, which is up 244%, and Meta, which is up 185%. In fact, its gains outpace almost all US companies valued at $5 billion or more, CNBC reported.

MicroStrategy’s market cap is now $8.4 billion, meaning that roughly 90% of its value is anchored to bitcoin.

While the software company has been around for 35 years, MicroStrategy has become known for its bullish stance on bitcoin. That has been led by co-founder and chairman Michael Saylor who has said he wanted to acquire as much bitcoin as he possibly could.

And he has been. In November alone, MicroStrategy bought $593 million worth of bitcoin (roughly 16,130 tokens), its largest purchase since February 2021 when it splurged on $1 billion worth of the currency. 

“Bitcoin is not going to zero, it’s going to a million,” Saylor said in a CNBC interview last week. 

 The crypto spring has fueled rallies across the sector. Crypto stocks like Coinbase and Marathon Digital have also been on a tear, also notching triple-digit rallies.

Wall Street is also bullish on bitcoin, with Standard Chartered saying last month that it’s still set to more than double again to $100,000 by late next year. And in October, analysts at Bernstein predicted that bitcoin could hit $150,000 by mid-2025.

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