Bitcoin's longtime critic and pro-gold advocate, Peter Schiff, is not looking to slow down on his steady criticism of Bitcoin as he continues to harshly attack the world's largest Bitcoin treasury firm, MicroStrategy.
After recently describing MicroStrategy as the world's largest Ponzi, Schiff has pushed further on his claims against the firm, challenging the chairman, Michael Saylor, for a public discussion on the matter.
Schiff declares debate on MSTR
To back his claims about MicroStrategy operating under a fraudulent scheme, Schiff has disclosed plans to host a live discussion later today to majorly discuss $MSTR and analyze its structure.
While he holds firm to his argument that MicroStrategy is an obvious Ponzi, Schiff has invited interested participants to challenge his theory and back it up with proof.
The post further triggered the attention of the crypto community when he specifically called on Saylor to join the debate alongside the popular investigative journalist, Coffeezilla.
While the journalist is renowned for his investigative videos into alleged financial scams, Peter Schiff applauded him for previously looking into MicroStrategy; however, he expressed displeasure that the journalist backed off from calling MicroStrategy a Ponzi.
Schiff receives backlash on new claims
While Schiff is yet to get a response from Michael Saylor on the challenge, the X community has frowned at his consistent criticism with points considered "baseless."
Most of the commentators disagreed with his description of MicroStrategy as a Ponzi; they argued that the MSTR structure seems more like traditional capital-raising models rather than fraudulent schemes.
One of the comments also explained that MicroStrategy is only raising funds to invest in assets expected to generate returns, which is typically a standard financial structure.
Dan Burgin
U.Today Editorial Team
