MicroStrategy tops Bitcoin-related equities in 2024 Insights BitcoinCrypto Equities
MicroStrategy tops Bitcoin-related equities in 2024
Mining sector hit hard by Bitcoin halving; Marathon Digital down 27% YTD.
Quick Take
Year-to-date, MicroStrategy (MSTR) has been the best-performing Bitcoin-related equity, boasting a remarkable 93% return. In contrast, Bitcoin itself has returned 31%, ahead of US equities and gold. BlackRock’s IBIT has also shown strong performance with a 25% return. However, the broader Bitcoin equity landscape is mixed. The WGMI ETF saw a modest 1% increase, while BITO, which invests in Bitcoin futures, is down 13% YTD and 20% since its inception.
The mining sector, in particular, has faced significant challenges due to the Bitcoin halving, leading to some miners declaring bankruptcy. Marathon Digital Holdings (MARA), the largest miner by Bitcoin HODL, has dropped 27% YTD. Despite the struggles, there have been bright spots, such as some miners pivoting into AI, with Core Scientific striking notable deals in AI and high-performance computing with companies like CoreWeave.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
Latest Insights
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
MicroStrategy
MicroStrategy (Nasdaq: MSTR) is a worldwide leader in enterprise analytics and mobility software.
