MicroStrategy might have earned 108% more by investing in Ethereum instead of Bitcoin as per the report
MicroStrategy, an American business intelligence company is among the first institutions to convert a portion of their balance sheet to Bitcoin (BTC), noting the asset’s significant use as a store of wealth. However, fresh data reveals that the firm would have had a greater opportunity to increase earnings if it had chosen Ethereum (ETH).
MicroStrategy might have increased its revenues by around 108.72%, or $3 billion, on November 6 had it invested in Ethereum, according to statistics compiled by Rohmeo de of the Blockchain Center.
Specifically, as of September 20, 2022, the company’s Bitcoin holdings totalled 130,000 BTC, which had a market value of $2.76 billion at the time of publication. Alternatively, if the funds were invested in Ethereum, they might control around 3,542,000 ETH worth $5.77 billion.
According to Finbold, the corporation took advantage of the protracted weak market to acquire additional Bitcoin, with the previous CEO Michael Saylor claiming that the asset is the ultimate store of wealth and inflation hedge in addition to being second to none.
The author of ‘The Black Swan,’ Nassim Nicholas Taleb, mocked Saylor by suggesting that his departure from the leadership of MicroStrategy was the “last nail in the coffin” for the company’s refusal to sell Bitcoin despite the bear market.
Ethereum looks to live up to its most recent expectations based on its profit potential amidst aggressive network growth.
As a result of the related deflationary characteristics, the update is said to make Ethereum more appealing to institutions.
Also Read: Lebanese Citizens Support Crypto And Accept USDT Payments Despite Severe Economic Meltdown
Comments are closed.