The company’s stock has risen enormously, up 825% since the inception of its Bitcoin strategy, outperforming even Nvidia (NASDAQ:NVDA)’s parabolic rise. With such results, MicroStrategy has successfully outperformed its competitors and gained a significant advantage in the whole U.S. stock market, Saylor concluded.
Even though Saylor’s speech got a lot of positive attention, some people still have doubts, especially critics like Peter Schiff, who has been very vocal about his opposition to cryptocurrency.
Schiff said that even though MicroStrategy has done well this year, its stock is still 40% below its highest price over the past 52 weeks and 6% below its 2021 peak. He thinks the growth Saylor is happy about might not last, and there could be more declines to come.
Interestingly, while Saylor was bullish on his own company’s stock, he was spotted selling MSTR this year, with sales stopping in late April when the price per share hit a high of $173. More to the point, the price dropped more than 37% that month.
After that, however, no sales were made by the MicroStrategy chief.
Who is right, Saylor or Schiff? Only time will tell, but with every billion dollars in, the debate gets hotter, that is for sure.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
