Peter Schiff: "Bitcoin Will Kill Michael Saylor and Sink MicroStrategy"
Date: 2024-03-06 Author: Dima Zakharov Categories: IN WORLD
Gold Advocate's Critique
Renowned gold advocate Peter Schiff has unleashed criticism towards billionaire Mark Cuban and MicroStrategy chairman Michael Saylor for favoring Bitcoin over gold. Schiff's critique comes amidst soaring gold prices, reaching an unprecedented $2,110 per ounce earlier this week.
Gold Soars, Bitcoin Prevails
Gold prices surged by $33, marking a historic high, yet Schiff noticed a lack of attention towards gold in media coverage. Schiff expressed disdain, highlighting instances where Bitcoin overshadowed gold in discussions.
MicroStrategy's Bitcoin Ventures
Schiff didn't spare MicroStrategy's Michael Saylor, known for substantial Bitcoin investments. Schiff accused MicroStrategy of speculation, citing the company's plans to issue $600 million in convertible bonds, potentially leading to significant losses and bankruptcy.
Schiff's Bold Declaration
In a bold statement, Schiff proclaimed, "Bitcoin will kill Michael Saylor and sink MicroStrategy." The economist recently likened the cryptocurrency market's current surge to a classic pump-and-dump scheme, warning of dire consequences for traders post-Bitcoin's rise.
Bitcoin's Volatility
Despite Bitcoin hitting a new record high of over $69,000 on Tuesday, March 5, its inability to sustain this level suggests ongoing volatility in the cryptocurrency market.
