According to Eric Balchunas, a top analyst at Bloomberg, business intelligence company Strategy is really shining. He pointed out that Strategy has significantly outperformed the Invesco QQQ Trust, a major ETF that closely follows the tech-heavy Nasdaq-100 index.

In fact, Strategy’s stock has jumped an impressive 7% so far this year, even with the QQQ actually being down by 10% during the same period.

This impressive performance really highlights how resilient Strategy’s stock is, pushing back against the idea that it’s just a riskier, more volatile version of the Nasdaq-100.

Balchunas also mentioned being surprised by Bitcoin’s strength. The leading cryptocurrency is currently trading near $85,000.

The well-known Bloomberg analyst thinks a key reason Bitcoin’s price exploded from $30,000 to $70,000 in just a few months was the successful launch of several new Bitcoin ETFs.

The fact that Bitcoin has stayed strong around $85,000 even with recent stock market dips and significant ETF inflows, really demonstrates just how “shockingly strong” it is.

He explained, “I think what we’re seeing is that over the past year, figures like Saylor and the new ETFs have bought up so much Bitcoin from casual investors. This has built a much more solid base of long-term holders compared to previous market cycles.”