While the entire crypto market is panicking with the ongoing scenario, various crypto advocates have continued to be firm with their stance and that also includes Michael Saylor, co-founder of MicroStrategy.
MicroStrategy is a company that provides business intelligence, mobile software, and cloud-based services. Ever since the company began betting on Bitcoin in August 2020, Saylor has been a huge public advocate of crypto.
Recently, Saylor took to Twitter to share the achievement of Bitcoin against other indices like Nasdaq, S&P500, gold, bonds, etc. From August 10, 2020 till the present day, Bitcoin has been the best performer with a 40% growth compared to S&P 500 and Nasdaq at 18% and 2% respectively.
Analysts suggest that the assets including S&P 500 and Nasdaq are correlated to crypto given its volatility. Every time stock prices get affected due to several external factors, the crypto sector gets affected too; however, a lot of experts suggest that in recent times the correlation seems to have loosened a bit. As per data over the past 5 days, S&P 500 has slipped down by 0.32% whereas Nasdaq has slipped down by 0.78% whereas Bitcoin has surged by 0.16% at the time of writing.
MicroStrategy in recent times is considered to be one of the biggest buyers and hodlers of Bitcoin as per the statistics on its balance sheet.
The firm has made large purchases of Bitcoin in 2021 and early 2022 funded via the issuance of second secured notes and the sale of its common stocks whereas the purchases made in the second and third quarters of 2022 were done via excess cash.
In August last year, Saylor in a media interaction opined that Bitcoin is going to be the center of technical innovation as reported by Todayq.