Microstrategy (MSTR) has “outperformed every plus category and massive tech stock” since {the company} adopted a bitcoin strategy and began hoarding the cryptocurrency in its corporate treasury, says business executive Michael Saylor. The pro-bitcoin government will step down because of Microstrategy and take on the role of executive chairman of the company to specialize in bitcoin.
Performance of Microstrategy since adopting the Bitcoin strategy
Nasdaq-listed Microstrategy Iraqi National Congress package company. (Nasdaq: MSTR) released its second-quarter financial results on Tuesday. Business executive Michael Saylor tweeted on Wednesday:
“Since adopting a bitcoin strategy, MSTR has outperformed all asset classes and massive tech stocks.”
He added that the value of bitcoin increased by 94% during this period, while the S&P500 increased by 23% and the NASDAQ by 13%. In contrast, gold, bonds and silver are down 13%, 14% and 29%, respectively. Microstrategy adopted a bitcoin strategy during the third quarter of 2020.
He explained in an extremely different tweet:
“Since Microstrategy adopted a bitcoin strategy, its enterprise price has increased by +730% (+$5 billion) and MSTR has increased by +123%.”
Comparing the performance of Microstrategy stocks to massive tech stocks since adopting a bitcoin strategy, Saylor noted that MSTR has outperformed Alphabet/Google (GOOG), Apple (AAPL), Microsoft (MSFT), Amazon (AMZN) , the owner of Facebook Meta (META) and Netflix (NFLX).
Microstrategy has 2 business strategies: business analytics and bitcoin. The bitcoin strategy is to “acquire and hold bitcoins for the long term; buy bitcoin using excess cash flow and debt and equity transactions,” according to the company’s second-quarter financial results presentation.
The software company currently owns 129,699 BTC, acquired at a median price of $30,664 per bitcoin, network fees and expenses, for a combined price base of $4 billion, the aforementioned company. Reportable bitcoin impairment charges from Microstrategy of $917.8 million in the second quarter, which square non-cash charges through volatility in the value of BTC.
Saylor steps down as chief trading officer to focus on Bitcoin strategy
Microstrategy also said Tuesday that Saylor can step down as the company’s chief commercial officer and assume the role of chief executive officer, effective Aug. 8. Phong Le, the company’s current chief trader, could become the new commercial director.
Saylor, who has served as the company’s chief commercial officer since 1989, can remain chairman of the board and an officer of the company. He detailed:
As Executive Chairman, I will be able to focus on our bitcoin acquisition strategy and connected bitcoin support initiatives.
“I believe removing the roles of president and corporate executive may lead the United States to further pursue our two ways of mining and owning bitcoin and grow our corporate analytics package business” , commented the outgoing business executive.
“In my next job I will be focusing a lot on bitcoin,” he tweeted on Wednesday.
The post office Microstrategy outperforms all asset classes and major tech stocks since adopting Bitcoin strategy, says CEO first appeared on BTC Sons.