Ethereum vs. Bitcoin: MicroStrategy’s Missed Opportunity
MicroStrategy co-founder Michael Saylor’s Bitcoin Initiative, which involves steadily purchasing Bitcoin and currently holding close to 160,000 units, may not have been the most profitable move. According to analysis by Bitcoin Rainbow Chart creator Holger Rohm, if MicroStrategy had invested in Ethereum instead of Bitcoin, the company would have made a profit of $2.5 billion instead of facing a loss of around $400 million at present.
Rohm also highlighted that if MicroStrategy had chosen Ethereum, the company would have held 11% of staked Ethereum and earned significantly more from staking than its core business generates. These findings were based on data from BlockchainCenter.net.
Ethereum Price Analysis
Currently, the price of Ethereum stands at $1,593.93. This represents a 1.63% loss for the day, a 7.97% drop in the past week, and a 2.43% decrease in value over the previous month.
Despite these figures, there are still many crypto analysts and investors who believe that Bitcoin has the potential for a major bull run in the future. As it approaches its halving event, some even speculate that it could reach a price of $1 million.
Hot Take: MicroStrategy’s Bitcoin Bet Might Yet Pay Off
While it may seem like MicroStrategy missed out on significant profits by choosing Bitcoin over Ethereum, it’s important to consider the potential future gains that Bitcoin could bring. With its upcoming halving event and the optimism surrounding its price trajectory, Saylor’s decision might still prove to be a wise one. Only time will tell if MicroStrategy’s bet on Bitcoin will pay off massively.
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