Software development firm MicroStrategy Inc. ( MSTR ) hasn't been the same since it embraced Bitcoin (CRYPTO: BTC) four years ago, with the firm's stock returning more to its investors than Warren Buffett's Berkshire Hathaway Inc. throughout this time.

What Happened: MicroStrategy ( MSTR ) adopted Bitcoin as its primary reserve asset on August 10, 2020, becoming the first publicly listed company to pursue this strategy. 

Since then, shares of the so-called Bitcoin development company have soared 839%. Interestingly, the stock has outperformed even Bitcoin's returns, with the cryptocurrency growing by 393%.

Meanwhile, Berkshire Hathaway's stock has just about doubled in value since Aug. 10, 2020, or a growth of 101%

It was pertinent to note that the firm's top executives have been some of the harshest critics of Bitcoin.

In an interview with CNBC in May 2018, Buffett described Bitcoin as "rat poison" and said he wouldn’t buy it even if it dropped to $25.

In May 2021, the late vice chairman Charlie Munger went to the extent of labeling the apex cryptocurrency "disgusting and contrary to the interests of civilization."

See Also: Bitcoin Skeptic Peter Schiff Says He Is ‘Open-Minded’ But Hasn’t Seen Any Convincing Argument To Embrace King Crypto: ‘I’m Also Intelligent And Honest’

Why It Matters: MicroStrategy’s Bitcoin corporate reserve strategy has been driven by its co-founder, Michael Saylor's unwavering support of the digital asset. 

He recently disclosed owning nearly $1 billion worth of BTCs in a personal capacity, separate from $13.2 billion worth of the currency held in MicroStrategy's ( MSTR ) reserves. 

At the current market value, the company's paper gains on Bitcoin were roughly 60%. The company also revealed plans to raise up to $2 billion through equity sales to acquire more Bitcoin.

Price Action: At the time of writing, Bitcoin was exchanging hands at $58,442.49, down 4.86% in the last 24 hours, according to data from Benzinga Pro. Shares of MicroStrategy ( MSTR ) ended 0.46% down at $135.37 at Friday’s market close.

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