Peter Schiff, probably the most vocal and stubborn hater of Bitcoin, has done it again. This time the target for his bespoke crypto criticism was Fundstrat's Tom Lee, who shared a selfie with Strategy's Michael Saylor, captioning that post with "Bitcoin and Ethereum are friends."
For Schiff, though, they are rather "partners in crime," as this is exactly how he commented on this photo.
The commentary landed perfectly after the previous day's announcement that BitMine got 46,255 ETH from BitGo, which is about $201 million. That takes their total stash to 2,126,018 ETH, which is about $9.24 billion.
As for Bitcoin, Saylor's Strategy is still in a league of its own, with the software provider owning as much as 638,460 BTC right now, equivalent to $73.55 billion at current value. With average buy-in at $73,880 per BTC, that puts Strategy up almost 56% in profit.
Combine that with the fact that MSTR (MicroStrategy's ticker) has a diluted market cap of $105 billion.
Crypto controversies
Schiff's quick comment fit into his usual routine of criticizing crypto enthusiasm, but this time he aimed at two figures who speak for the two biggest coins on the market.
One has incorporated Bitcoin into a corporate balance sheet, while the other highlights Ethereum's broader financial potential. Together, they became a target too good to pass up for Schiff's latest jab at crypto.
The post is definitely very special, as Lee has already had to deal with people who do not like him for shifting his focus to Ethereum through his work with BitMine Technologies, which was all about Bitcoin until the recent "Ethereum Treasury" hype.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team