Michael Saylor, the renowned bull, recently shared the remarkable success of MicroStrategy’s cryptocurrency strategy on CNBC. With Bitcoin’s price surging by an average of 44% annually in recent years, MicroStrategy, a major holder of the cryptocurrency, has leveraged this growth to achieve phenomenal results.
Since implementing its Bitcoin strategy, MicroStrategy’s stock has skyrocketed by a staggering 825%, surpassing the parabolic rise of Nvidia (NASDAQ). Saylor confidently stated that the company has not only outperformed its competitors but has also gained a significant edge in the entire U.S. stock market.
Despite the positive reception to Saylor’s remarks, skeptics like Peter Schiff continue to cast doubts. Schiff pointed out that while MicroStrategy has performed well this year, its stock is still 40% below its highest price in the last 52 weeks and 6% below its peak in 2021. He warned that the growth celebrated by Saylor may not be sustainable, potentially leading to further declines.
MicroStrategy and Bitcoin
Currently, MSTR stock is trading at approximately $121, marking a more than 90% increase since the beginning of the year. On the other hand, Bitcoin has seen a 30% rise in the past nine months. Interestingly, despite Saylor’s bullish stance on MicroStrategy’s stock, he was observed selling MSTR earlier this year, with sales halting in late April when the share price reached $173, only to plummet by over 37% that month.
Subsequently, there have been no further sales by the MicroStrategy chief.
As the debate between Saylor and Schiff intensifies with each billion dollars invested, only time will reveal who was right all along.