CoinDesk Report:
MicroStrategy founder and chairman Michael Saylor recently reiterated his bullish stance on Bitcoin in a post on X, asserting that the cryptocurrency’s design is intended to surpass traditional investment instruments. This statement comes amid a sharp decline in Bitcoin prices, causing widespread turmoil across the cryptocurrency market.
Saylor’s post featured a striking chart comparing 13-year price performances across various asset classes, including Bitcoin, U.S. growth, Nasdaq 100 Index, gold, emerging market stocks, commodities, emerging market bonds, convertible bonds, total bond market, and long-term treasuries.
Among all the compared assets, Bitcoin, U.S. growth, Nasdaq 100 Index, and U.S. large-cap stocks demonstrated the best performances. Despite nearly annual positive returns for these assets since 2011, Bitcoin notably outperformed with its investment returns.
For instance, in 2011, the chart shows Bitcoin achieved growth of 1473%, whereas U.S. growth index, Nasdaq 100 Index, and U.S. large-cap stocks each saw increases of less than 4%. By 2013, Bitcoin’s returns soared to an astonishing 5507%, while gold plummeted, depreciating by over 28%.
Furthermore, the chart indicates that from 2011 to 2024, Bitcoin’s cumulative performance surged by an impressive 18,881,969%. In comparison, during the same period, U.S. growth rose by 670%, Nasdaq 100 Index grew by 931%, and gold increased by 59.3%.
As of the latest data, Bitcoin is trading at $57,502, marking a decline of 6.4% over the past 7 days and 19% over the past 30 days. It is noteworthy that despite Bitcoin’s current price performance, it remains the best-performing asset among traditional investments.
This isn’t the first time MicroStrategy has presented such a chart. Saylor has consistently claimed that “nothing compares to Bitcoin,” and the latest data only strengthens his conviction. It’s important to note that MicroStrategy holds a Bitcoin investment portfolio worth over $13 billion, acquired at a cost of $8.37 billion over the past four years.
