MicroStrategy Will Double Profit If Invest In Ethereum Instead Of Bitcoin

With the high store of value characteristics of the asset as justification, MicroStrategy is one of the pioneering organizations to convert a portion of their balance sheet into Bitcoin (BTC). However, according to recent statistics, the corporation would have had a better chance of making more money if it had chosen Ethereum (ETH).

According to statistics provided by Blockchain Center, MicroStrategy could have made an additional $3 billion as of November 6 by investing in Ethereum.

Specifically, the company had 130,000 BTC as of September 20, 2022, with a market value of $2.69 billion at the time of writing. The sum, however, could control around 3,542,000 ETH worth $5.56 billion if it were invested in Ethereum.

Throughout many market cycles, MicroStrategy has amassed Bitcoin. As Coincu reported, the company increased its Bitcoin holdings by taking advantage of the bad market. Former CEO Michael Saylor said that Bitcoin is the best store of wealth and inflation hedge available, in addition to being unrivaled.

MicroStrategy has also suffered losses on its Bitcoin investment during this period. The company recorded a $727,000 digital asset impairment charge on its Bitcoin assets in the third quarter, down considerably from $917.8 million in the second quarter.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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