MicroStrategy co-founder Michael Saylor jokingly notes that it's actually better than Bitcoin.
To support his claim, he attached a graph showing the stock price performance of MicroStrategy (MSTR) since it adopted the Bitcoin strategy.
The business intelligence company significantly outperformed the “Magnificent 7” companies, which include major companies such as Apple, Alphabet, Microsoft, Nvidia, and Tesla.
The company's stock price rose a massive 1,620%, outperforming all S&P 500 companies. The most recent index is up 73% over the same period.
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As reported by U.Today, MicroStrategy's stock price soared a whopping 16% on Friday after Saylor predicted the company could become a $1 trillion Bitcoin bank.
Following recent purchases, the company now owns $15.8 million worth of cryptocurrencies.
Microstrategy vs Coinbase
MicroStrategy is currently worth $43 billion and has a stranglehold on Coinbase.
Blockstream advisor Tuur Demeester recently pointed out the similarities between the two companies, arguing that they represent a “battle of two archetypes.”
He claims that MicroStrategy is a hedgehog that knows “one big thing.” Coinbase, on the other hand, is a busy fox distracting itself with too many strategies.
Of course, this is a reference to MicroStrategy's Bitcoin maximalist approach, which negates the idea of investing in altcoins. Thaler famously stated that “there is no second best” when it comes to crypto investing.
Meanwhile, Coinbase CEO Brian Armstrong, who was originally very skeptical of altcoins, has abandoned Bitcoin maximalism.
