MicroStrategy beats BlackRock’s IBIT by more than 3 times year to date

The launch of US bitcoin exchange-traded funds on January 11, 2024 has become one of the most significant financial events of the year. These ETFs, including the BlackRock iShares Bitcoin Trust (IBIT), have collectively attracted $17.7 billion in net inflows since their debut, according to Farside data. For some, IBIT emerged as a competitor to MicroStrategy ( MSTR ), a company famous for its substantial bitcoin holdings and dual business model. Led by Executive Chairman Michael Saylor, MicroStrategy currently holds 252,220 bitcoins, valued at approximately $16 billion. MicroStrategy shares are up 119% year-to-date, compared to IBIT’s 35%, reflecting a more than threefold outperformance.