Instead of Bitcoin, Ethereum has more chances to bring profit to the micro strategy
The US-based micro strategy company recently announced its third quarter financial report. According to the record, the entity had achieved a growth level of 51%. MicroStrategy received an additional 301 bitcoins at the end of September 2022. Recently, it set records as the world’s largest listed crypto asset, holding 130,000 bitcoins with a total value of $1.93 billion (USD).
At the end of September 2022, the company’s total revenue was $125.4 million, and the real market value of MicroStrategy’s bitcoin was $3.98 billion (USD). It shows the effect on the average cost per bitcoin in the crypto market.
Michael Saylor, Executive Chairman of MicroStrategy, is a well-known figure who predicted that the price of bitcoin would reach $69,000 in the coming years. In 2021, he stated that the price of Bitcoin is 50 times better than the precious metal gold. Saylor’s company is one of the largest Bitcoin business owners in the world.
MicroStrategy CEO Phong Le stated that the results are impressive for the growth of the platform. He further added that “we continue to see the global adoption of our cloud platform by both domestic and international customers, and benefit from the long-term durability of our enterprise analytics business, with a third quarter renewal rate of 95% despite the ongoing macroeconomic headwinds .”
There is a belief among researchers that if MicroStrategy chooses Ethereum over Bitcoin to invest in, then the results of the profits will be doubled. If the entity bought ethereum, its value would be almost equal to $5.45 billion (USD), which is higher than the growth rate of bitcoin. MicroStrategy has 130,000 bitcoins with a value of $2.79 billion (USD). If they bought ethereum instead of bitcoin now, they would have 3,542,000 ETH worth $5.45 billion (USD).
Currently, China which has the most bitcoins has a value twice that of the MicroStrategy company. At the time of writing, the nation holds bitcoins at a high rate of $3.9 billion (USD). According to the reports, the Bitcoin network’s computing power has grown by nearly 60% since the start of 2022, reaching an all-time high of 273.21 EH/s on November 1.
Recently, the company received the “Voice of the Customer” in the latest Gartner Peer Insights. “We are honored and proud to continue serving our customers to the best of our ability,” the entity thanked platform users.
