Michael Saylor, co-founder of MicroStrategy, recently shared a comparison on social media, showcasing how his company has performed against other major firms since August 2020.
MicroStrategy outshone the competition with an impressive growth of 1,113%. In comparison, Nvidia followed closely behind with a 1,059% rise, driven by the booming demand for artificial intelligence technologies. Nvidia’s ascent this year included surpassing Microsoft to become the most valuable company globally, thanks to its AI chips that support popular tools like ChatGPT.
Arista Networks, a leader in computer networking from Santa Clara, claimed the third spot with a 539% increase, benefiting from the expanding AI hardware sector. Earlier this year, the company announced a strategic partnership with Nvidia to further its growth.
Other notable companies that made the list of top performers include Eli Lilly with a 523% gain, Quanta Services at 467%, Howmet Aerospace at 442%, Broadcom at 408%, and Marathon Petroleum with 372%.
Cantor Fitzgerald, a major financial services firm, has set an optimistic price target of $194 for MicroStrategy’s stock, viewing it as a strong leveraged bet on Bitcoin.
Additionally, the SEC recently approved a fund that increases exposure to MicroStrategy. Earlier this year, MicroStrategy’s stock (MSTR) joined the MSCI World Index, which tracks large and mid-sized companies worldwide, although it has not yet been included in the S&P 500.
Wall Street firms are expected to keep expanding into crypto, despite growing competition and minimal correlation between Bitcoin and traditional indices like the S&P 500 and Nasdaq.
Circle, the company behind the USDC stablecoin, is optimistic about the mainstream adoption of stablecoins as a key component of digital finance.
Justin Sun, founder of Tron and a prominent figure in the cryptocurrency world, has voiced strong criticisms of Coinbase’s Bitcoin counterpart, cbBTC.
Nik Storonsky, the founder and CEO of fintech powerhouse Revolut, has reportedly offloaded shares valued between $200 million and $300 million in the company.