Michael Saylor-owned data intelligence firm MicroStrategy Inc MSTR, which currently holds the largest number of Bitcoin (CRYPTO: BTC) could have been more profitable if they had invested in Ethereum (CRYPTO: ETH), data from a statistics platform shows.
What Happened: According to archived statistics on blockchaincenter.net, Microstrategy’s portfolio could have been more profitable if it had invested in ETH instead of BTC.
Software developer MicroStrategy (MSTR) purchased nearly $150 million worth of Bitcoin (BTC) between Aug.1 and Sept.24, it said in a Monday regulatory filing.
“MicroStrategy, together with its subsidiaries, acquired approximately 5,445 bitcoins for approximately $147.3 million in cash, at an average price of approximately $27,053 per bitcoin, inclusive of fees and expenses,” the company said in the filing.
MicroStrategy now holds approximately 158,245 BTC, which were acquired at an aggregate purchase price of approximately $4.68 billion at an average purchase price of roughly $29,582 per bitcoin.
The creator of the data set, Holger from blockchaincenter.net, a self-proclaimed “data nerd,” said he collected these metrics and painted an entirely different picture of what might have been for Microstrategy.
See More: Everything You Need to Know About Ethereum
If Microstrategy had invested the money in ETH at different points, it would now be holding 3,971,678 ETH ETH and its portfolio would be valued at $6.320 billion, yielding a 34% increase against BTC. Compared with a 12% loss from its BTC investment, investing in ETH would have brought a profit of $2.255 billion to the company.
By staking its Ether stash, the firm could have also potentially earned an additional 371,355 ETH, bringing in a staking profit of about $591.0 million annually at an annual percentage rate (APR) of 4%.
Why It Matters: Holger’s data also reveals that if Microstrategy were to trade its BTC for ETH today, the company would receive 2,619,368 ETH as per today’s exchange rates. This ETH portfolio would generate an estimated $208 million annually from staking.
Despite the compelling data, Saylor holds BTC in the highest esteem as can be seen from his tweets, making switching to ETH highly unlikely.
Price Action: At the time of writing, BTC was trading at $26,331.32 and ETH at $1,591.49, according to Benzinga Pro.
Image generated using AI via MidJourney
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
