U.Today – Michael Saylor, cofounder of MicroStrategy business intelligence behemoth, has revealed the secret of his company surpassing Nvidia (NASDAQ:), Tesla (NASDAQ:) and Amazon (NASDAQ:) over the past four years.
MicroStrategy beats Nvidia, Here’s why
Saylor is a former chief executive, who recently stepped down from his position but remains the company’s executive chairman.
The chart shared by Saylor shows that since Aug. 10, 2020, MicroStrategy’s share price has surged by 1,203%, exceeding Nvidia with its 1,050% growth. The Tesla and Amazon share prices have demonstrated 167% and 22%, respectively. The Apple (NASDAQ:) share price has gone up 108% in these past four years.
Saylor explained that anyone who wants their business to outperform Nvidia should adopt the strategy, similarly to Saylor’s business intelligence giant. MicroStrategy has been steadily buying Bitcoin since Aug. 10, 2020. By now, the company holds 226,331 Bitcoins valued at a whopping $7.538 billion.
Twice this year – in March and June – MicroStrategy announced debt offerings to its investors to raise additional funds to buy more Bitcoin. In June, the company first attempted to raise $500 million by offering investors convertible senior notes but then increased this figure to $700 million.
$5.8 billion in Bitcoin moved by anonymous whales
Popular crypto tracker Whale Alert, which monitors large cryptocurrency transactions, has spotted two astounding crypto movements, each carrying several billion U.S. dollars worth of Bitcoin. In addition to that, the same data source spotted a much smaller transfer, which carried 92,967 BCH worth $34,624,662.
Still, this BCH transfer looks pale compared to the Bitcoin transactions, which comprised 48,641 BTC and 44,000 BTC worth $3,061,354,870 and $2,806,815,549. In total, they constituted $5,868,170,419.
The first mammoth Bitcoin chunk of 44,000 BTC was transferred by the former and currently nonfunctional cryptocurrency exchange Mt Gox. It transferred the Bitcoin to a new wallet, most likely preparing to start compensation payments to its creditors after the historic 2014 hack, according to the analytics account Lookonchain.
The second transaction by Mt. Gox has not been confirmed by on-chain data platforms yet, but judging by the size of it, it seems to be coming from the same source as the first one. Besides, Mt. Gox also promised to make repayments not only in Bitcoin but in Bitcoin Cash too. Therefore, the above-mentioned BCH transfer was probably also made by this platform.
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