Bitcoin Strategy Impacts MicroStrategy and Tesla's Market Stature Differently

Bitcoin Strategy Impacts MicroStrategy and Tesla's Market Stature Differently

By: Eva Baxter

Overview

Two significant U.S. companies, MicroStrategy and Tesla, have seen varied outcomes resulting from their differing Bitcoin investment strategies. Business analytics organization MicroStrategy first made a Bitcoin purchase in August 2020 when the asset was approximately $10,000. Their continued accumulation of Bitcoin now comes up to over 1% of the total supply. Conversely, electric vehicle manufacturer Tesla entered the market later, in January 2021, during the year's market frenzy. Currently, based on Arkham Intelligence data, Tesla owns approximately 11,509 Bitcoin valued at around $767.6 million.

MicroStrategy observed an exceptional rise of over 1200% following its initial Bitcoin investment. On the other hand, Tesla's shares have dropped by 31% year-to-date, which has moved MicroStrategy up and Tesla down on the market capitalization leaderboard respectively. In 2021, Tesla bought around 38,900 BTC, approximately worth $1.5 billion but later sold a substantial part. If Tesla held until now, it could have amounted to around $2.6 billion.

Get In Touch

[email protected]

Follow Us

© BlockBriefly. All Rights Reserved.