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If Strategy bought Nike instead of Bitcoin…
$34.5B↓ vs $68.2B BTC value
Total invested
$63.7B
118 transactions
NKE value today
$34.5B
-45.8% return
BTC value today
$68.2B
+7.0% return
BTC outperformed by
+$33.7B
+53% more return on capital
Bitcoin (actual)
NKE (hypothetical, total return)
Quietly working in the background
Dividends earned along the way
NKE paid 25 dividends over this period
Cash dividends paid
$1.9B
before reinvestment
Compounded reinvested value
$1.1B
reinvested at ex-date close
Share of NKE's total return
3.2%
rest is price appreciation
Where NKE's $34.5B value comes from
total return = price + dividends
Price appreciation · $33.4B
Dividends · $1.1B
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 118 transactions
Transaction dateAmountBTC value nowNKE value now
Aug 10, 2026Sale$109M$109M$109M
Aug 3, 2026Sale$105M$105M$105M
Jul 6, 2026Sale$135M$135M$135M
Jun 30, 2026Sale$81M$81M$81M
Jun 22, 2026$35M$42M$28M
Jun 15, 2026$100M$129M$78M
Jun 8, 2026$101M$126M$83M
Jun 1, 2026Sale$2M$2M$2M
May 18, 2026$2.0B$2.0B$1.7B
May 11, 2026$43M$43M$36M

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