AAPLSPYMSFTNVDAGLDETHTSLAQQQXRP
If Strategy bought Pepsi Co instead of Bitcoin…
$64.5B↑ vs $64.4B BTC value
Total invested
$63.7B
118 transactions
PEP value today
$64.5B
+1.3% return
BTC value today
$64.4B
+1.2% return
PEP outperformed by
+$71M
+0% more return on capital
Bitcoin (actual)
PEP (hypothetical, total return)
Quietly working in the background
Dividends earned along the way
PEP paid 25 dividends over this period
Cash dividends paid
$3.2B
before reinvestment
Compounded reinvested value
$3.0B
reinvested at ex-date close
Share of PEP's total return
4.7%
rest is price appreciation
Where PEP's $64.5B value comes from
total return = price + dividends
Price appreciation · $61.5B
Dividends · $3.0B
Price-only return
Reinvested dividends (compounded at ex-date avg price)
PEP's lead over Bitcoin is largely price appreciation. $3.2B in dividends were reinvested along the way, compounding into the total.
Per-transaction breakdown
Showing 10 most recent of 118 transactions
Transaction dateAmountBTC value nowPEP 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$40M$35M
Jun 15, 2026$100M$122M$97M
Jun 8, 2026$101M$119M$101M
Jun 1, 2026Sale$2M$2M$2M
May 18, 2026$2.0B$1.9B$1.9B
May 11, 2026$43M$41M$40M

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