Michael Saylor, the co-founder of MicroStrategy, has sarcastically claimed that the sole alternative to Bitcoin is to acquire additional Bitcoin.
In order to substantiate his argument, he included a chart that illustrated the performance of MicroStrategy (MSTR) shares since the company implemented its Bitcoin strategy.
The business intelligence firm has significantly outperformed the “Magnificent 7” companies, which include such prominent names as Apple, Alphabet, Microsoft, Nvidia, and Tesla.
Its shares have increased by an astounding 1,620%, surpassing every company in the S&P 500. There has been a 73% increase in the closely monitored index during the same period.
According to U.Today, MicroStrategy’s shares experienced a significant 16% increase on Friday after Saylor foresaw that his organisation could potentially evolve into a trillion-dollar Bitcoin bank.
The company currently possesses $15.8 million in cryptocurrency as a result of its most recent acquisitions.
MicroStrategy’s current market capitalization is $43 billion, which is a significant threat to Coinbase. Recently, Tuur Demeester, an advisor to Blockstream, drew comparisons between the two organizations, contending that they symbolize “the conflict of two archetypes.”
He contends that MicroStrategy is a hedgehog that is aware of “one significant thing.” In the interim, Coinbase is a fox that is amusing itself with an excessive number of strategies.
Obviously, this is a reference to MicroStrategy’s Bitcoin maximalist approach, which disapproves of the notion of investing in altcoins. Saylor has famously declared that “there is no second best” in the realm of cryptocurrency investing.
In the interim, Brian Armstrong, the CEO of Coinbase, has renounced Bitcoin maximalism, despite his initial skepticism regarding altcoins.
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