MicroStrategy's Saylor Names One Thing Better Than Bitcoin
2024-10-13

MicroStrategy co-founder Michael Saylor has jokingly stated that the only thing that is better than Bitcoin is actually more Bitcoin.
To support his point, he attached a chart showcasing the performance of MicroStrategy (MSTR) shares since the company's adoption of its Bitcoin strategy. 
The business intelligence firm has vastly outperformed the "Magnificent 7" companies including such big names as Apple, Alphabet, Microsoft, Nvidia, and Tesla. 
Its shares have surged by a whopping 1,620%, outstripping every S&P 500 company. The closely-followed index is up 73% over the same period of time.
As reported by U.Today, the shares of MicroStrategy soared by a whopping 16% on Friday after Saylor predicted that his company could potentially turn into a trillion-dollar Bitcoin bank. 
Following its most recent purchases, the company now owns $15.8 million worth of crypto. 
Microstrategy v. Coinbase 
MicroStrategy is currently worth $43 billion, breathing down Coinbase's neck.
Tuur Demeester, advisor to Blockstream, recently drew parallels between the two companies, arguing that they represent "the battle of two archetypes." 
He claims that MicroStrategy is a hedgehog that knows "one big thing." Meanwhile, Coinbase is a fox that is busy distracting itself with too many strategies. 
This is, of course, a reference to MicroStrategy's Bitcoin maximalist approach that rejects the idea of investing in altcoins. Saylor has famously stated that "there is no second best" when it comes to cryptocurrency investing. 
Meanwhile, Coinbase CEO Brian Armstrong, who was originally highly skeptical of altcoins, has abandoned Bitcoin maximalism. 