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MicroStrategy has been the best trade of 2024

MicroStrategy stocks and bonds are in the green, and its bitcoin-buying days are not over yet.

Joe Consorti

Mar 26

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News chyrons and Twitter feeds alike have been aflutter with buzz about MicroStrategy recently, and for good reason. The first company to add bitcoin to its corporate treasury, and the only company that holds BTC as its primary reserve asset, has had a storybook start to 2024.

MSTR surpassed the $8.2 billion threshold to be eligible for S&P 500 inclusion in just over two months, and after 3 more profitable quarters, it could be the first ever company whose primary treasury reserve asset is bitcoin to be listed in the largest US equity index. Rounding out Q1, MicroStrategy is now the 347th largest company in the US by market cap, and the 9th best-performing US stock year-to-date.

MicroStrategy has even trounced Nvidia, the wunderkind of the AI boom, both since the start of 2024 and over the last year, with MSTR up a resounding 676% compared to Nvidia’s 258% gain in the same period:

Compared to the largest mega-cap tech names, it’s even less of a contest, with the second-place trophy going to Meta, rising only 147% to MSTR’s 676% gain:

MicroStrategy has been the trade of the year so far in 2024. It begs the question: why?

With bitcoin ETFs now on the market, why are equity investors still choosing to buy into MicroStrategy, the asset that served as the de-facto spot ETF for people looking for the closest approximation to BTC exposure in the equity market?

It all has to do with the MicroStrategy strategy, a flywheel of active corporate treasury management that has allowed it to be a bitcoin-buying machine with no intent of slowing down. Here’s how it works...