u.today
MicroStrategy co-founder Michael Saylor recently took to the X social media network to spotlight the impressive performance of his company's stock, which recently managed to outperform such heavy hitters as Amazon (AMNZ) and Alphabet (GOOGL) in terms of trading volume on Friday.
"Bitcoin makes the Magnificent 8," Saylor said in his social media post.
MicroStrategy (MSTR) managed to generate $5.8 billion in trading volume during the last trading session of this week. For comparison, Amazon (AMNZ) and Alphabet (GOOGL) logged $5.5 billion and $2.4 billion, respectively.
The Magnificent 7 stocks represent the elite group of tech companies that are considered to be the most dominant US stock. The widely used term was initially coined by prominent CNBC host Jim Cramer.
Tesla (TSLA) is in the lead by trading volume with $43.5 billion. Nvidia (NVDA) comes in second place with $29 billion.
Apple (AAPL), Microsoft (MSTF), and Meta (META) are also in the top 5.
The fact that MicroStrategy, which is primarily known as the largest corporate holder of Bitcoin, has managed to outperform some "Magnificent 7" players in terms of daily trading volume is an extremely impressive feat considering that the company's market currently stands at only $47.48 billion.
MicroStrategy (MSTR) is up more than 22% over the past month alone. Its stock has surged by a staggering 242% on a year-to-date basis, vastly outperforming Bitcoin.
The company's Bitcoin holdings currently stand at more than $17 billion.