Bitcoin Updates: Gold Advocate Questions Bitcoin's Future in Intense Debate
- Peter Schiff challenges Michael Saylor's MSTR , accusing it of a fraudulent Bitcoin-focused business model and proposing a live debate during Binance Blockchain Week. - Schiff criticizes MSTR's reliance on high-yield preferred shares, warning of a "death spiral" as investors abandon unguaranteed dividends and debt access dwindles. - Bitcoin's recent price drop below $99,000 and MSTR's 50% stock decline since July highlight market skepticism, while gold outperforms at $4,085 per ounce. - Saylor defends MS
Peter Schiff, a well-known opponent of
Schiff’s main argument targets MSTR’s dependence on “high-yield” preferred shares, which he claims will never provide the returns that have been promised. “Once fund managers catch on, they’ll offload the preferreds,” Schiff posted on X,
This debate invitation comes at a time when Bitcoin (BTC)
Schiff’s arguments have gained momentum as the market landscape shifts. Gold, his preferred asset, has outperformed Bitcoin, trading above $4,085 per ounce and approaching its October peak of $4,380. This performance has strengthened his stance that Bitcoin’s fixed supply of 21 million coins is an unstable basis for value,
Saylor, on the other hand, has stood by MSTR’s approach. During an earnings call in August, he claimed the company could endure an 80% plunge in Bitcoin’s price without missing a dividend payment. He argued that their long-term accumulation strategy has resulted in a low average purchase price. Nonetheless, critics have
Bitcoin’s recent price swings have only heightened scrutiny of the company.
As the discussion about MSTR’s future continues, investors are paying close attention. Whether Saylor can maintain the company’s momentum during crypto downturns—and whether Schiff can prove gold’s superiority as a store of value—will likely influence the narrative in the months ahead.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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