Traditional finance's "cryptocurrency assets"? MSTR's five-year performance far exceeds Bitcoin and gold

As the integration of crypto assets and traditional finance (TradFi) deepens, a special “bridge asset” is attracting market attention. On December 30, 2025, asset management firm Strive’s CEO Matt Cole cited data from BitcoinTreasuries.NET, clearly indicating that over the past five years, the performance of Strategy (i.e., MicroStrategy, stock code MSTR.US) has outperformed Bitcoin and gold. This conclusion not only challenges traditional perceptions but also reveals the unique value of investing in Bitcoin through the stock market under the emerging financial landscape.

Data Speaks: MSTR’s Five-Year Excess Return

Market valuation of assets ultimately reflects in data. The conclusion cited by Matt Cole is based on a five-year performance comparison. He believes that even when Bitcoin’s price reaches $75,000 or its market value to net asset value (mNAV) ratio is only 1, MSTR’s historical performance remains ahead.

This judgment is not isolated. Some view MSTR stock as a “shitcoin” in traditional finance, noting its stock price has surged by 2,500% over the past five years. In comparison, Bitcoin’s increase during the same period is about 1,500%. This means that over the same five-year cycle, investing in MSTR yields returns far exceeding direct Bitcoin holdings. The scope of outperformance extends beyond the crypto market. During the same period, gold, a traditional safe-haven asset, has seen a much lower increase than both. With its unique business model, MSTR has demonstrated remarkable growth in both traditional finance and the crypto world.

A Unique Bridge: Why Can MSTR Become the “Shitcoin” of TradFi?

The reason MSTR stands out is due to its role as a “bridge.” It is not an ordinary tech company but a publicly listed company that invests large and continuous amounts of corporate funds into Bitcoin. This strategy makes it an “proxy asset” for traditional financial investors to indirectly access Bitcoin. Jeff Park, strategy head at Bitwise Asset Management, once described that the trend of MSTR stock is more like a “shitcoin” accessible to traditional financial investors.

For many institutional and retail investors restricted by regulations or channels from directly purchasing spot Bitcoin ETFs or cryptocurrencies, buying MSTR stock on the stock exchange becomes the most convenient way to share in Bitcoin’s potential upside. This demand creates a unique premium logic. The market not only values MicroStrategy’s software business but also pays a premium for its massive Bitcoin reserves. Its stock price fluctuations are highly correlated with Bitcoin, but often with larger swings, providing an investment experience similar to “leveraged” Bitcoin.

Market Outlook: How Do Institutions View MSTR’s Future?

Strong historical performance and a unique positioning have fueled market expectations for MSTR’s future. Several major investment banks and analysis firms have issued optimistic ratings and target prices. According to Barchart’s summary at the end of December 2025, the market consensus rating for MicroStrategy stock is “Strong Buy,” with an average target price of around $490, implying over 200% potential upside from current levels. Some analysts have provided more specific forecasts. TD Cowen’s analysts maintain a target price of $585 and predict that by 2027, the company’s Bitcoin holdings could reach 815,000 coins.

A more ambitious vision comes from financial analyst André Dragosch. He believes that if Bitcoin’s price increases tenfold from current levels and MSTR trades at 2x mNAV, MicroStrategy’s market cap could approach one trillion dollars within 5 to 10 years, rivaling financial giants like JPMorgan Chase.

Trading Channels: How to Seize MSTR Ecosystem Opportunities on Gate?

As a leading crypto asset trading platform, Gate’s significance lies in providing a window for global users to understand the value of the Bitcoin ecosystem. The platform’s in-depth analysis and market information on Bitcoin and related concept stocks (such as MSTR) can help investors build a cross-asset investment perspective spanning TradFi and Crypto.

When Bitcoin once again becomes a market focus at the end of 2025, Wall Street analysts are recalculating the value of the more than 640,000 Bitcoin on MicroStrategy’s balance sheet. Every time Chairman Michael Saylor increases his holdings, MSTR’s stock price aligns more closely with Bitcoin’s candlestick chart. This company is no longer just a software story but a Bitcoin investment fund with staggering scale, written into its financial reports. On Gate’s market screen, Bitcoin’s price movements stir the nerves of global investors. Meanwhile, in the nearby US stock market, MSTR’s stock price is exhibiting more volatile swings, silently reiterating the same narrative about the future of digital assets.