AAPLSPYMSFTNVDAGLDETHTSLAQQQXRP
If Strategy bought IBM instead of Bitcoin…
$80.4B↑ vs $53.3B BTC value
Total invested
$64.1B
113 transactions
IBM value today
$80.4B
+25.6% return
BTC value today
$53.3B
-16.7% return
IBM outperformed by
+$27.1B
+42% more return on capital
Bitcoin (actual)
IBM (hypothetical, total return)
Quietly working in the background
Dividends earned along the way
IBM paid 23 dividends over this period
Cash dividends paid
$3.8B
before reinvestment
Compounded reinvested value
$4.7B
↑ $983M from reinvestment
Share of IBM's total return
5.9%
rest is price appreciation
Where IBM's $80.4B value comes from
total return = price + dividends
Price appreciation · $75.7B
Dividends · $4.7B
Price-only return
Reinvested dividends (compounded at ex-date avg price)
IBM's lead over Bitcoin is largely price appreciation. $3.8B in dividends were reinvested along the way, compounding into the total.
Per-transaction breakdown
Showing 10 most recent of 113 transactions
Transaction dateAmountBTC value nowIBM value now
Jun 15, 2026$100M$100M$93M
Jun 8, 2026$101M$98M$88M
Jun 1, 2026Sale$2M$2M$2M
May 18, 2026$2.0B$1.6B$2.3B
May 11, 2026$43M$34M$47M
Apr 27, 2026$255M$206M$279M
Apr 20, 2026$2.5B$2.2B$2.5B
Apr 13, 2026$1.0B$877M$1.1B
Apr 6, 2026$330M$307M$335M
Mar 23, 2026$77M$65M$78M

IBM value includes reinvested dividends. Splits are silently adjusted. Saylor often makes multiple purchases per month — each is its own row. See methodology.