Nasdaq-listed company Microstrategy has avoided a “multi-billion dollar mistake” by choosing to invest in bitcoin instead of gold. The company now holds about 108,992 bitcoins.
‘Multi-Billion Dollar Mistake’ Avoided
The Nasdaq-listed software company Microstrategy has avoided making a mistake that could have cost the company multi-billion 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.
The CEO also posted the return of gold vs. bitcoin. According to his estimation, gold returned -5.88% during the past 12 months while bitcoin returned 376.34%. In addition, the return of gold vs. bitcoin was -80% during the last 12 month period.
Gold’s returns versus bitcoin. Source: Microstrategy.
Saylor said earlier this year: “Gold is dead money. Sell