Microstrategy, a Nasdaq-listed business, averted a “multi-billion dollar disaster” by investing in bitcoin rather than gold. The corporation now has around 108,992 bitcoins.
Microstrategy, a Nasdaq-listed software business, has averted a costly error that might have cost the company billions of dollars.
CEO Michael Saylor tweeted Sunday: “If I had chosen Gold instead of Bitcoin last year, it would have been a multi-billion dollar mistake. It doesn’t help to diagnose the problem if you don’t choose the right solution.”
According to the graphic below, if MicroStrategy had invested in Gold instead of Bitcoin, the over $2 billion initial investment would have lost 80% of its value in one year. It would have lost 21% of its value in the last 30 days.
According to BitcoinTreasuries.org, MicroStrategy has about 100,000 BTC, or 0.5 percent of the entire supply. As shown above, this investment has increased by 376.34 percent in one year.
Econometrics data also suggests a link between the performance of MicroStrategy (MSRT) shares and the price of Bitcoin. Since the debut of its BTC treasury programme, the company’s shares have increased by 428 percent.
Bitcoin and MicroStrategy have outperformed the NASDAQ and the SP500, two of the most major stock indexes. Since the software company revealed its BTC treasury programme, the former has made a 68.3 percent profit, while the latter has made a 54.8 percent profit.