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Peter Schiff Challenges Michael Saylor's BTC Strategy
Euro Capital CEO Peter Schiff is challenging Michael Saylor’s bitcoin strategy over the critical issue of liquidity. The crypto skeptic argued that billions of dollars in gold could be sold with limited market impact, while trying to exit a similar bitcoin position could hit prices hard and set off copycat selling.
Strategy has spearheaded Bitcoin’s corporate adoption, building its reserve with proceeds from common stock, preferred stock, and convertible bond issuances. The firm held a stash of 639,835 BTC, worth over $70 billion as of this writing.
Price Action: At the time of writing, BTC was trading at $109,544.46, down 1.87% in the last 24 hours.
Shares of MSTR dipped 0.23% in after-hours trading after closing 7% lower at $300.70 during Thursday's regular trading session.
MSTR demonstrated a high momentum score—a measure of the stock's relative strength based on its price movement patterns and volatility over multiple timeframes—as of this writing.
This article has been published in Benzinga.com via Yahoo News.
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