Saylor is very careful not to include in these graphs a comparison with other companies that are proving to be much more profitable, such as Metaplanet or ALTBG. In these cases I could argue that it is because they are not USA companies but I am looking forward to companies like XXI Capital being launched and seeing the comparison of the first 6 months. I would bet quite strongly that the profitability in bitcoin per share of these companies will be higher than that of MSTR for a mathematical reason: it will be relatively easy for these companies to double, triple, or more their bitcoin holdings, while it will be impossible for MSTR to obtain such profitability.
No the list doesn't involve other Bitcoin treasury companies.
If you observe you would realise that he's comparing performance with MSTR and other S&P companies
While Bitcoin and other ETFs like Gold, Real Estates and Bond.
MSTR for a mathematical reason: it will be relatively easy for these companies to double, triple, or more their bitcoin holdings
Not only that but because they are relatively new and with cheaper shares that can be affected with a relatively cheaper amount than MSTR.