Advertisement
AD

Main navigation

Bitcoin Hater Peter Schiff Grills Michael Saylor With Epic Question

Advertisement
Thu, 3/08/2023 - 9:15
Bitcoin Hater Peter Schiff Grills Michael Saylor With Epic Question
Cover image via www.youtube.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

In a recent twist of events, renowned financial expert and vocal critic of cryptocurrencies, Peter Schiff, took a direct shot at MicroStrategy CEO Michael Saylor over the company's Bitcoin holdings.

Advertisement

Related

On Aug. 1, it was revealed that MicroStrategy had acquired an additional 467 BTC for $14.4 million, bringing their total Bitcoin stash to an impressive 152,800 BTC. The company's CEO, Michael Saylor, disclosed that they had acquired the digital assets for a total cost of $4.53 billion, averaging $29,672 per Bitcoin.

However, it seems Schiff could not resist poking fun at Saylor's investment strategy. Seizing the opportunity to question the move, the expert confronted the MicroStrategy CEO, stating that the latest BTC purchase had already resulted in a 5% loss. He further inquired about the total losses that the company's shareholders had incurred since the company first ventured into the world of cryptocurrencies.

Despite the direct challenge, Saylor has yet to respond to Schiff's query, a move that might not be too surprising for those familiar with Saylor's social media style.

Is glass half full?

At present, Bitcoin's price is indeed trading slightly below MicroStrategy's average purchase price, but by just 2%. While this might seem like a cause for concern, it is essential to note that the company's investment in Bitcoin has yielded significant returns. Since MicroStrategy began buying Bitcoin for its treasury, MSTR shares have surged an astonishing 220% to their current value. At the peak, the growth skyrocketed to an impressive 965%, reaching an all-time high of $1,315 per share.

Related

While the recent dip in Bitcoin's value may have raised some eyebrows, MicroStrategy seems undeterred, displaying confidence in their digital asset strategy.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD