MicroStrategy's stock has surged impressively by 132% this year, surpassing Bitcoin (BTC) and other companies with BTC exposure, according to research by Kaiko. This rise is partly attributed to a short squeeze and gains particular significance with the introduction of new spot Bitcoin exchange-traded funds (ETFs) in the US, offering a convenient avenue for BTC investment.

Despite their BTC holdings, Tesla and Square (SQ) have not experienced similar gains, with their stocks down by 10% and 29% year-to-date, respectively. These companies demonstrate a weaker correlation with Bitcoin, aligning more closely with the broader tech market trends.

Other companies like Japan's Metaplanet and Semler Scientific have recently joined MicroStrategy, Tesla, and Square in adding Bitcoin to their balance sheets. Following these announcements, Metaplanet's shares surged by 85%, while Semler Scientific witnessed a 10% increase, outperforming MSTR, SQ, and TSLA after their initial BTC investment revelations.

The appeal of Bitcoin as a corporate asset has strengthened following the US Financial Accounting Standards Board's approval of new crypto accounting regulations in December 2023, as highlighted by Kaiko. These regulations, set to take effect in December 2024, will enable companies to value Bitcoin and select other crypto assets at their fair market value, departing from the previous classification as an indefinite-lived intangible asset.