Let’s Bitcoin Magazine examines the stock price performance of publicly traded companies that have adopted Bitcoin as a treasury asset, excluding mining companies.
The most notable example is MicroStrategy, the company has been applying the BTC strategy since August 2020 – a time when the company’s stock price was only about 130 USD. By March 2021, it had skyrocketed to $1,300. Despite hitting a bear market bottom of around $130 in January 2023, MicroStrategy’s stock price is currently trading below $1,500. MicroStrategy’s shares have increased more than 900%, significantly outperforming Bitcoin, which has increased more than 450% in the same period.
MicroStrategy stock vs BTC price since Bitcoin strategy announcement. Source: TradingView
Next, Metaplaneta Japanese publicly traded company, announced the adoption of BTC April 8. Since then, its stock price has increased 326%, even though Bitcoin’s price fell 6% in the same period. Metaplanet has continued to buy more Bitcoin since the initial announcement.
Metaplanet stock vs BTC price since Bitcoin strategy announcement. Source: TradingView
Semler Scientific announced on May 28 that it had purchased 581 BTC as treasury assets. Since then, the company’s stock price has increased more than 60%, while the price of Bitcoin has fallen 5%. Semler Scientific also raised $150 million to buy more Bitcoin.
Semler Scientific stock vs BTC price since Bitcoin strategy announcement. Source: TradingView
DeFi Technologies first announced the purchase of Bitcoin as its primary treasury reserve asset on June 10, 2024. The company’s stock price increased more than 6%, peaking over 68% on June 17, despite the Bitcoin price down nearly 7%.
Tesla excluded from this analysis because Elon Musk has not stated that they use BTC as a treasury asset; The stock price is now down 30% since Tesla first bought Bitcoin in 2021 and sell at least 75% of them. Additionally, Coinbase was disqualified because it holds cryptocurrency on its balance sheet ahead of its 2021 IPO.
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According to Cryptoslate
