Bankruptcy promise to MicroStrategy – If there is something that cannot be blamed Michael Saylor and your business microstrategy, is your constancy. Since 2020, they regularly buy bitcoins (BTC). With his last and very recent purchase of 301 BTC additional, the Treasury of MicroStrategy has just arrived at the 130,000 bitcoins total. A annoying situation at the highest point Peter Schiffa lifelong enemy of Bitcoin.
Michael Saylor and company are Bitcoin DCA professionals
The company microstrategylisted on the NASDAQ stock exchange (MSTR share), has been working since August 2020 for replace US dollars regularly for what she considers a store of valuenamely Bitcoin.
MicroStrategy applied a DCA strategy (Average cost in dollars) exemplary, which allowed him to soften the cost price of his bitcoins. Among his first tens of thousands of BTC bought for little more $11,500and these few purchases during the confinement of 2021, where Bitcoin surpassed the $60,000MicroStrategy did quite well.
In fact, while many consider that we are at or near a market low pointand that everyone agrees to talk aboutcrypto winterMicroStrategy’s 130,000 BTC cost price is ultimately not that far off course, around $30,600. But obviously a big detractor of Bitcoin, like Peter Schiffcouldn’t help but rush into this (temporary?) breach, with a bitcoin price which has therefore fallen for the moment to $20,000.
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MicroStrategy’s Bitcoin Bet ‘Will Cause Bankruptcy’
As soon as Michael Saylor announced MicroStrategy’s latest investment in an additional 301 bitcoins, Peter Schiff jumped at the opportunity to to criticize and them promise the worstthrough your account Twitter :
“Basically, your company has already lost about $1.5 billion (40%) on its Bitcoin bet. But in addition, if you try to sell, Bitcoin will crash, which will significantly increase the realized losses. MSTR’s foray into Bitcoin has been a disaster. Shareholders must sell while they can. »
And when a netizen responds to Peter Schiff that MSTR stock has (despite the current cryptocurrency bear market) valued since the beginning of this “Bitcoin Bet”this great monomaniac fond of gold continues with his reproaches and incites including shareholders resell your MSTR titles you consider “in a big bubble”.
So much so that MicroStrategy “could even go bankrupt” according to Peter Schiff. It must be said that last year, this investor “gold bug” still manages to criticize Bitcoin, when he had to admit and apologize for saying that BTC would never go above $50,000. So it is no surprise that Peter Schiff is now taking advantage of the weakness in the crypto markets to shoot the ambulance.
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