Peter Schiff publicly questioned the MicroStrategy Bitcoin strategy after five years since its inception. The gold advocate and critic argued via X that Michael Saylor’s aggressive bet has not generated staggering profits, noting that with an average purchase price of $75,000, the firm’s unrealized gain is a meager 16%.
The impact of these statements comes at a time of stagnation for the pioneer crypto, which is trading near $87,388. Schiff asserts that the average annual return of 3% is insufficient considering the risk and volatility assumed, labeling the “digital gold” narrative as a failure compared to the recent performance of physical gold, which has reached all-time highs of $4,300.
The market is now watching the resilience of the MicroStrategy Bitcoin strategy, which recently increased its holdings to 671,268 BTC. Despite a 207% surge in trading volume, the price shows fragility. Investors must observe whether current liquidity allows for a rally or if bearish pressure confirms Schiff’s warnings about volatile assets.
Source: https://x.com/PeterSchiff/status/2005631054867267889
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