In what is certainly a sign of the company’s thriving strategy, Michael Saylor’s MicroStrategy (MSTR) has seen its stock increase 1,540% since 2020, outperforming all of the S&P 500 in that time. Indeed, the index has only increased 11% in that time frame, showing the monumental growth the tech company has enjoyed.
A key part of MicroStrategy’s success has been its adopted Bitcoin accumulation strategy. The timing of its BTC efforts could not have been better. Through the last several years, the firm has continuously increased its holdings in the leading cryptocurrency. Thereby increasing its overall value on the stock market.
Also Read: Barclays Raise Microstrategy Stock Price Post BTC Rally: Target $225
MicroStrategy Surging Since 2020 as It Stands Above Every S&P 500 Company
2024 has proven to be Bitcoin’s year. It became the first crypto-based ETF to get regulatory approval in the United States. Moreover, just three months into the year the token reached an all-time high price of $73,000. With October looking to be beneficial for the asset, it could challenge that as we near the end of the year.
That performance has been huge for the individuals who have consistently defended the merits of the leading crypto. Yet, there is perhaps no Bitcoin advocate as argent in his belief in the token as Michael Saylor. That has paid off massively. According to Arkham Intelligence, Saylor’s MicroStrategy stock is up 1,540% since 2020. Specifically, that has it outperform every single company in the S&P 500 since August four years ago.
Also Read: MicroStrategy Stock Rises 550% in 2024: Should You Invest?
The company became one of the first publicly traded to list Bitcoin on its balance sheet. The increased popularity of Bitcoin and belief in the asset could have headed for even more gains throughout October. Regarded as ‘Uptober‘ in the crypto industry, it has historically been a dominant month for BTC.
Yet, the company is still unlikely to be added to the S&P 500 index despite its dominant performance. That is due to the company’s inability to be profitable. Listing candidates are required to have been profitable in the year and quarter most recent to their consideration. If MicroStrategy can get there, it should be able to find itself on that listing.
