.webp)
Auteur
Jonathan Hobbs, CFA
Date
15 Aug 2025
Catégorie
Market Insights
MicroStrategy vs Bitcoin: 5-Year Performance Comparison
Votre capital est exposé à un risque si vous investissez. Vous pouvez perdre la totalité de votre investissement. Veuillez consulter l’avertissement complet sur les risques ici
On 11 August 2020, Strategy (MSTR) first bought bitcoin for its corporate treasury. That decision tied the company’s share price closely to bitcoin’s moves. In this article, we compare the performance of MSTR stock with bitcoin itself over the past five years.
MSTR vs bitcoin performance: August 2020 – August 2025
Over the past five years, MSTR has been more volatile than bitcoin. Yet it had a higher Sharpe ratio – meaning more return per unit of volatility.
Using data from Portfolio Visualizer, here’s how $10,000 in each performed from August 2020 to August 2025:
From $10,000, bitcoin grew to $102,229, while MSTR surged to $324,290. Volatility was higher for MSTR (114% vs 65.6%), but so were annualised returns (100.5% vs 59.2%). That pushed its Sharpe ratio ahead of bitcoin’s.
Of course, past performance is no guide to future returns. MSTR has also experienced more significant drops than bitcoin during bitcoin bear markets. The stock’s maximum drawdown (worst-case drop from peak, based on monthly returns) was -81.1%.
How much bitcoin does Strategy hold?
Today, Strategy holds 628,946 bitcoin – or 3% of the total 21 million supply.
The chart shows how that percentage has climbed since its first bitcoin purchase in August 2020 – almost five years ago to the day.
IncomeShares MicroStrategy (MSTR) Options ETP
The IncomeShares MicroStrategy (MSTR) Options ETP combines cash-secured put selling with some exposure to MSTR stock:
- Stock exposure – gives the ETP some upside potential if the stock price rises.
- Selling put options – aims to generate monthly income, while the cash backing means the ETP may buy more stock if the price falls below the strike.
Key takeaways
- Since August 2020, MSTR has been more volatile than bitcoin but achieved higher risk-adjusted returns.
- Volatility may increase both return potential and option premiums, but also increases risk.
- IncomeShares’ MSTR Options ETP uses volatility to target income, combining equity exposure with put-selling.
Votre capital est exposé à un risque si vous investissez. Vous pouvez perdre la totalité de votre investissement. Veuillez consulter l’avertissement complet sur les risques ici
Produits associé:
Stratégie
Option de vente couverte par liquidités + actions
Rendement des distributions
67.81%
Stratégie
Cash-Secured Put + Equity
Rendement des distributions
62.92%