A website claims to have worked out how much Michael Saylor and MicroStrategy would have made if the company had invested in Ethereum instead of bitcoin – and the yacht-loving bitcoin evangelist had probably better look away now.
According to a new tool from BlockchainCentre.net, MicroStrategy’s 130,000 bitcoins are currently worth $ 2.735 billion. This would be pretty impressive if it hadn’t spent nearly $4 billion on acquiring them.
Roughly translated, this means that the company’s somewhere in the region of $1.25 billion down since it first entered the market two years ago.
On the other hand, if MicroStrategy had instead pumped its funds into the number-two crypto, it would today be sitting on 3,542,000 ETH worth a little over $5.8 billion. Again, roughly translated this means the firm would be $1.821 billion up.
This makes a mockery of Saylor’s sometimes outlandish claims about Bitcoin’s place in the crypto landscape.
And it gets worse. The website also calculates that, with ETH staking, MicroStrategy would have earned 239,691 ETH – at 4%, that’s over $390 million. That would give the company a total of 3,781,691 ETH worth nearly $6.2 billion. Ouch.