Ethereum

Cryptocurrency

Bitcoin

Yuan

<div class="finbold">
 <p class="paragraph">Three years into the bold ‘Bitcoin Initiative’ by MicroStrategy co-founder Michael Saylor, which has seen his company steadily purchasing Bitcoin (BTC) and currently ‘hodling’ close to 160,000 units, it looks like betting on Ethereum (ETH) instead would have been more profitable.</p>
 <div></div>
 <p class="paragraph">In fact, if MicroStrategy had bought Ethereum instead of Bitcoin, the company would have been $2.5 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> in profit instead of around $400 million in a loss at press time, according to the <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Bitcoin Rainbow Chart creator Holger Rohm, a.k.a. <em>rohmeo.eth </em>shared on October 9.</p>
 <p class="paragraph">On top of that, the cryptocurrency analyst pointed out that the company would have held 11% of staked Ethereum (if staked) and would have earned “way more from staking than their core business does,” according to the data retrieved from <em>BlockchainCenter.net</em>.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh6.googleusercontent.com/ROaAC44zjD-rJh4NJ1aQ_boecOCM71GPD_x4NMFn6cN3nAAy3R_6AUBZoX0MUDBplIq2G_jHwLnrXNxuYa01AyUpt8oSUZWC2FJE4Qu7N2UDP_4j5gILIA6FXaWNRYk567Cqp6Pcvvm3e8Xqdob-0uA" alt>
  <figcaption class="wp-element-caption"><em>MicroStrategy’s Bitcoin holdings. Source: </em><em>romeo.eth/BlockchainCenter.net</em>
  </figcaption>
 </figure>
 <p class="paragraph">Indeed, as Finbold reported in late September, MicroStrategy was, at the time, recording $500 million in unrealized losses as Bitcoin was trading around $26,200 – notably lower than MicroStrategy’s average buy price.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
 <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8">
  <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto">
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/10/09/2f87ba34c215cc735ffb7baf81ccb627.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="bitcoin-s-rocky-start-price-drops-below-27-7k-can-btc-recover">Bitcoin's rocky start: Price drops below $27.7k, can BTC recover?</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/10/09/69bedb4aa982803a8c658d6b0f45f6a6.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="chatgpt-ceo-warns-us-government-wants-to-control-bitcoin">ChatGPT CEO warns US government wants to control Bitcoin</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/10/09/fc85d711f09da2fe7d5cdee6e80de78a.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="china-s-yuan-has-a-market-cap-of-1-4-billion-btc-what-about-usd">China's Yuan has a market cap of 1.4 billion BTC; What about USD?</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/10/09/459b969746259ac108dc661b0c69a392.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="chatgpt-picks-top-3-cryptocurrencies-to-stake-for-passive-income">ChatGPT picks top 3 cryptocurrencies to stake for passive income</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/10/09/5b28a497bacff57ad975496205e700f8.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="jefferies-bitcoin-is-a-critical-hedge-against-inflation-belongs-in-same-bag-as-gold">Jefferies: Bitcoin is a 'critical hedge' against inflation, belongs in same bag as gold</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">At press time, the flagship decentralized finance (DeFi) asset was changing hands at the price of $27,515, recording a decrease of 1.21% in the last 24 hours, as well as declining 2.84% across the previous seven days while still gaining 6.44% on its monthly chart.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh4.googleusercontent.com/MI7kYcHU6LGy7cdIrsfyexE_kFPyJK-zwgLFqYFT8rZCpKTx9zLCiIrOaVUbb7YW0cU30X0Eg5m3W_rgVYWduSbETQtTkUZ2axQGCalG29BZqUwLQZO3EzboilxLbwxLQYolruZ7-7FEO2eehCGDkD8" alt>
  <figcaption class="wp-element-caption"><em>Bitcoin 30-day price chart. Source: </em><em>Finbold</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-ethereum-price-analysis">Ethereum price analysis</h2>
 <p class="paragraph">Meanwhile, the price of Ethereum at the time of publication stood at $1,593.93, which represents a loss of 1.63% on the day, a drop of 7.97% in the past week, as well as losing 2.43% to its value in the previous month, as per the most recent data retrieved on October 9.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh6.googleusercontent.com/OjwhC1n2hSYibMzDLMo10i_izXvtpkt1zHLwNznZnwoVE0pO3A4z2eRf_IaSioQn4v43jOb2bbPVfm_fFdqW2UGjWn50guG7-QlTWoIYW_FsfygiDhwE8W4iLbI2muGr4jSlD6O5eXVCpvNADH97B34" alt>
  <figcaption class="wp-element-caption"><em>Ethereum 30-day price chart. Source: </em><em>Finbold</em>
  </figcaption>
 </figure>
 <p class="paragraph">All things considered, Saylor’s Bitcoin bet might yet pay off, and massively. As it happens, many crypto analysts and investors believe that the maiden digital asset might still have a major bull run in its future, especially as it approaches its halving event, and could possibly even reach the price of $1 million.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/michael-saylor-would-be-up-2-5-billion-if-he-chose-ethereum-over-bitcoin-tbt65632.html">https://thebittimes.com/michael-saylor-would-be-up-2-5-billion-if-he-chose-ethereum-over-bitcoin-tbt65632.html</a></p>

Michael Saylor would be up $2.5 billion if he chose Ethereum over Bitcoin

Table of Contents

TheBitTimes

Other articles published on Oct 9, 2023

Binance, OKX, and MoonPay comply with UK’s new financial promotion rules

Shiba Inu Sees Surprise Whale Inflow Spike Amid Crypto Selloff

Why President Vladimir Putin believes the American financial empire is crumbling

How Much Should Bitcoin Price Be for Satoshi to Be the Richest Man in the World?

Bitcoin Cash (BCH) Price Analysis: Why Did BCH Coin Fall?

Sam Bankman-Fried's $500M stake in Anthropic 'irrelevant', prosecutors say

Join our free newsletter for daily crypto updates!