MicroStrategy could have made 108% more profits by investing in Ethereum instead of Bitcoin
American business intelligence firm MicroStrategy is among the pioneer institutions to convert part of their balance sheet into Bitcoin (BTC), citing the asset’s strong store of value features. However, new data indicates that the company stood a bigger chance of more profits if it had opted for Ethereum (ETH).
MicroStrategy could have recorded about 108.72% or an additional $3 billion in profits as of November 6 by investing in Ethereum, data by Blockchain Center’s Rohmeo_de indicates. September 20, 2022, the company had a Bitcoin haul of 130,000 BTC with a market value of $ 2.76 billion by the time of publishing. However, if the amount was invested in Ethereum, it could control about 3,542,000 ETH valued at $ 5.77 billion.