Strategy Inc. (MSTR) Executive Chair Michael Saylor took to social media Sunday with a message: his company has crushed Wall Street's biggest names since betting big on Bitcoin. Well, almost all of them. There's one notable exception, and it's Nvidia Corp. (NVDA).

The Bitcoin Standard Era Rankings

Saylor posted a chart comparing annualized returns since August 10, 2020, the date when Strategy made the pivotal decision to adopt Bitcoin (BTC) as its primary treasury reserve asset. He's calling this period the "Bitcoin Standard Era," which has a nice ring to it if you're trying to rewrite financial history.

The numbers are genuinely impressive. Nvidia leads the pack with a staggering 1,557% gain and a compound annual growth rate of 68%. Strategy comes in second with a 1,173% increase and 60% annualized returns. Not too shabby for a company that essentially transformed itself into a Bitcoin accumulation vehicle.

Bitcoin itself, the cornerstone of Strategy's entire operation, has climbed 674% since that August 2020 date, translating to a 45% annualized gain. Saylor gave these assets catchy names: Nvidia is "Digital Intelligence," MSTR stock is "Digital Credit," and Bitcoin is "Digital Capital." He's branding them as the decade's best-performing assets.

The Reality Check: 2025's Rough Ride

Here's where the story gets more interesting. While Strategy's multi-year performance looks stellar, the recent track record is considerably less impressive. Over the past year, the stock has cratered by 52%. Meanwhile, Nvidia, Tesla Inc. (TSLA), Microsoft Corp. (MSFT), and Alphabet Inc. (GOOG) have all delivered positive returns to their shareholders.

Let's look at the full comparison:

That 10-year Nvidia number isn't a typo. Over 24,000% gains. Just wild.

Understanding the Volatility

The MSTR stock functions essentially as a leveraged Bitcoin proxy, and that's by design. Strategy's recursive strategy involves issuing equity and debt to acquire more BTC as its price climbs. This amplifies gains during Bitcoin rallies but magnifies losses when BTC retreats, which is exactly what happened over the past year.

The company did announce a $1.44 billion reserve aimed at funding dividends and interest payments without having to sell Bitcoin during downturns. That's a smart hedge against forced liquidations when markets turn ugly.

Here's an intriguing data point: Strategy's market valuation currently sits at $49.21 billion, while its Bitcoin holdings are worth just over $62 billion. The stock is trading at a discount to its net asset value. For value investors, that gap represents either an opportunity or a warning sign, depending on your view of Bitcoin's future trajectory.

Current Market Status

At the time of writing, Bitcoin was trading at $92,034.52, up 1.56% in the last 24 hours. Strategy shares closed Friday's regular session down 5.77% at $157.33. The stock is showing weakness across short, medium, and long-term price trends, a notable shift from its multi-year dominance.

Whether Strategy can bounce back strongly depends largely on Bitcoin's next move. The company has effectively tied its fate to cryptocurrency, for better or worse. Saylor's confidence remains unshaken, but investors will be watching closely to see if the Bitcoin Standard Era continues delivering the outsized returns that made Strategy a market darling in the first place.