What if you'd bought the other one?
Punch in your position and see the road not taken — what the same dollars in the other asset would be worth today, tracked from your purchase date to now.
MSTR would have left you $7 richer than BTC — a 0% difference on the same money.
Value of $1,000 over time
BTC is drawn continuously; MSTR steps and holds its last close on days the market is shut.
Or dollar-cost average instead
A lump sum bets everything on one entry date. Dollar-cost averaging spreads the same idea across many buys — a fixed amount every week or month — so your result depends less on timing. Here's how the same recurring buy would have played out in bitcoin versus MSTR.
Position value vs. total invested
Dashed line = total invested (cost basis). Buys are placed at the nearest available close; long-range history is weekly. Price return only — no fees, taxes, or dividends.
Should you buy MSTR or Bitcoin?
It's the question every crypto investor eventually asks: buy bitcoin directly, or buy MSTR — the stock of the company that holds more bitcoin than anyone else? They are not the same trade. Bitcoin is the underlying asset. MSTR (Strategy) is a leveraged, actively-managed wrapper around bitcoin: it raises debt and issues stock to buy more BTC, so its share price can swing far more than bitcoin itself and can trade at a steep premium or discount to the coins on its balance sheet.
That difference is exactly what the calculator above makes concrete. Enter how much you invested, the date you bought, and which asset you chose — and it shows what the same money in the other one would be worth today, tracked day by day. Because MSTR carries leverage, it has historically outrun bitcoin in strong bull markets and fallen harder in drawdowns, so the "winner" often flips depending on the start date you pick.
This is a history tool, not financial advice. It shows price return only — no dividends, fees, or taxes — and MSTR data before August 2020 predates the bitcoin strategy. See the methodology for data sources and caveats, or the side-by-side comparison for today's live numbers.
Frequently asked
Should I buy MSTR or Bitcoin?+
This tool doesn't give advice — it shows history. Bitcoin is the underlying asset; MSTR is a leveraged, actively-managed bet on it that can trade at a large premium or discount to the bitcoin it owns. In past bull markets MSTR has outrun BTC, and in drawdowns it has fallen harder. Run your own dates above and see how the two compare for the period you care about before deciding.
How is the 'what if' result calculated?+
We take the closest available daily closing price for BTC and MSTR on your chosen date, convert your dollars into a quantity of each asset, and multiply by today's live price. The difference is what you'd have now if you'd bought the other one instead.
Does it include dividends, fees, or taxes?+
No. The result is price return only. It ignores trading fees, taxes, and any preferred-stock or dividend income. Real-world outcomes would be lower after costs.
Why does MSTR sometimes beat Bitcoin and sometimes lose to it?+
Leverage and premium. Strategy funds bitcoin buys with debt and stock sold at a premium, so each dollar of BTC gain can become more than a dollar of MSTR value in bull runs — and the same mechanics amplify losses in drawdowns. That's why the winner flips depending on the start date you pick.
What purchase date should I use?+
Use your actual entry date for a personal answer, or try the preset buttons (Aug '20 marks the start of Strategy's bitcoin strategy) to compare full market cycles. MSTR history before August 2020 predates the bitcoin treasury and isn't a like-for-like comparison.