What if Saylor bought NKE instead of Bitcoin?

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If Strategy bought Nike instead of Bitcoin…

$40.5B↓ vs $54.1B BTC value

Total invested

$63.9B

116 transactions

NKE value today

$40.5B

-36.6% return

BTC value today

$54.1B

-15.2% return

BTC outperformed by

+$13.6B

+21% more return on capital

Bitcoin (actual)

NKE (hypothetical, total return)

Quietly working in the background

Dividends earned along the way

NKE paid 24 dividends over this period

Cash dividends paid

$1.9B

before reinvestment

Compounded reinvested value

$1.3B

reinvested at ex-date close

Share of NKE's total return

3.2%

rest is price appreciation

Where NKE's $40.5B value comes from

total return = price + dividends

Price appreciation · $39.2B

Dividends · $1.3B

Price-only return

Reinvested dividends (compounded at ex-date avg price)

NKE paid $1.9B in dividends over this period, reinvested at each ex-date. BTC still wins this comparison, but NKE's dividend stream closed part of the gap.

Per-transaction breakdown

Showing 10 most recent of 116 transactions

Transaction date	Amount	BTC value now	NKE value now
Jul 6, 2026Sale	$135M	$135M	$135M
Jun 30, 2026Sale	$81M	$81M	$81M
Jun 22, 2026	$35M	$33M	$33M
Jun 15, 2026	$100M	$102M	$91M
Jun 8, 2026	$101M	$99M	$97M
Jun 1, 2026Sale	$2M	$2M	$2M
May 18, 2026	$2.0B	$1.6B	$2.0B
May 11, 2026	$43M	$34M	$42M
Apr 27, 2026	$255M	$210M	$238M
Apr 20, 2026	$2.5B	$2.2B	$2.3B

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