Saylor's MicroStrategy Hits $18M Jackpot As Bitcoin Reaches $30K Levels, But Could A Bet On Ethereum Have Been The Bigger Win?
Portfolio Pulse from Mehab Qureshi
MicroStrategy Inc's Bitcoin holdings have become profitable again as Bitcoin's value climbed above $30,000, driven by renewed hopes for SEC ETF approval and market optimism following the dismissal of charges against two Ripple executives. The company's total Bitcoin holdings were acquired at an average price of approximately $29,582 per coin, resulting in a profit of roughly $17.82 million. However, data suggests that if MicroStrategy had invested in Ethereum instead, their profit would have been significantly higher.
October 23, 2023 | 3:35 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Bitcoin's value has risen above $30,000, driven by renewed hopes for SEC ETF approval and market optimism.
Bitcoin's value has risen due to renewed hopes for SEC ETF approval and market optimism. This could lead to a short-term increase in Bitcoin's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
MicroStrategy's Bitcoin holdings have turned profitable, potentially boosting investor confidence.
MicroStrategy's Bitcoin holdings have turned profitable due to the recent rise in Bitcoin's value. This could boost investor confidence in the company and potentially lead to a short-term increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The dismissal of charges against two Ripple executives has contributed to market optimism.
The dismissal of charges against two Ripple executives has contributed to market optimism, which could potentially lead to a short-term increase in Ripple's price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
If MicroStrategy had invested in Ethereum instead of Bitcoin, their profit would have been significantly higher.
The news suggests that an investment in Ethereum could have yielded higher profits for MicroStrategy. However, this is a hypothetical scenario and does not directly impact Ethereum's current price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50