What if Microstrategy had brought ETH instead? Saylor: "There is no second best"

As we all know, Michael Saylor and his company Microstrategy have been all in on Bitcoin for a number of years. Rather famously Saylor once said, "THERE IS NO SECOND BEST" when asked about altcoins. Instead, he advised, "Use all of your money to buy bitcoin and use all of your time learning how to borrow more money to buy more bitcoin".

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Someone recently made a website to show what could have been if they invested in Ethereum instead: https://www.blockchaincenter.net/en/there-is-no-second-best/

Although this site picks Ethereum, I think they're highlighting that BTC is not the ONLY option. It is quite unusual to see so much money concentrated into a single asset by one company. The saying goes "to create wealth you concentrate your investment, to preserve wealth you diversify".

So I think this site is just playing Devil's advocate a little, so take it with a pinch of salt!

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So straight off, you can see that MSTR would have been able to buy around 3.5 Million ETH in this time, worth over double what their BTC investment currently is.

https://preview.redd.it/jgtt19irwvx91.png?621&format=png&auto=webp&s=7bcc62f1fa2e83a133a4802ef4d45607c6fa3fe1

Here is the data plotted over time. You can see that they have not cherry-picked a single point in time where the ETH valuation would be higher. It has pretty much outperformed BTC for the whole duration of Saylors investment.

MSTR investment over time, vs if they purchased ETH instead.

So at this current point in time, you can see MSTR are down - $1.3 Billion. If they had brought ETH instead, they'd be up $1.6 Billion.

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Factor in staking rewards and you can see why ETH may become even more attractive at this scale. If he was to trade his BTC for ETH now, they could buy 1,695,420 ETH with a 4% average staking return that would be $134 million/year.

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But in summary, I think this site does a good job of highlighting that a single bet isn't always the best bet. Open-mindedness and having the flexibility to change your opinion over time will be valuable in this space!