Almost every Bitcoin maximalist has argued how Bitcoin has performed better than tech stocks. Reiterating the same, MicroStrategy’s CEO Michael Saylor said that the crypto asset has grown roughly by 200% a year, at least before the pandemic. With a 700.5% hike in price within the last 12 months, it appears to have outpaced tech firms, such as Amazon, Apple, and Microsoft (which took 40 years’ time to be a “trillion-dollar network,” – while Bitcoin took 12 years).
In Saylor’s opinion, macroeconomic factors such as inflation are driving the Bitcoin network to grow faster. This could also be the main reason why institutions are gradually adding Bitcoin to their balance sheets. Such developments often make a strong case for the crypto’s superiority in fintech markets. But the existence of networks vying for Bitcoin’s spot as the largest crypto asset, cannot be ignored.