MSTR outperformed bitcoin on just 22 days in the past year
For most of the past 12 months, it’s been better to own bitcoin (BTC) than Strategy (formerly MicroStrategy) stock. Indeed, over the past 250 trading days through yesterday’s close, MSTR has underperformed BTC 90% of the time . Although founder Michael Saylor promotes his common stock as a leveraged play on BTC — and BTC has doubled over the past 12 months — timing is always what makes or breaks an investment. Sure, MSTR has rallied 152% over the past year, which is certainly better than the 98% rally in BTC. However, unless investors held for those entire 12 months or longer, they would have had to have timed their entrances perfectly to outperform BTC. Specifically, MSTR has underperformed BTC for 228 trading days in the past 12 months. MSTR has only outperformed BTC on 22 trading days. Of those 22 rare days, 21 are clustered in September and October 2024. Like it or not, Jim Chanos’ MSTR short trade was a winner Read more: Michael Sa...