famous economist peter schiff I teased michael sayloris recommended. Micro Strategy Co., Ltd. (NASDAQ:MSTR) Boss buys huge stash Bitcoin The US government was planning to sell it (CRYPTO:BTC).
what happened: On Tuesday, Mr. Schiff expressed his views to X about the US government's decision to sell 69,370 BTC seized from the dark web market Silk Road.
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Earlier this week, the Supreme Court declined to hear a case challenging the government's ownership of the seized funds, opening the door to future liquidations.
“Governments do smart things sometimes. I think Michael Saylor should let MicroStrategy borrow another $4.3 billion to buy it,” Schiff said, mocking the company's Bitcoin reserve strategy.
The US government appears to be preparing to sell 69,370 units. #bitcoinworth about $4.3 billion at current market prices. Governments sometimes do smart things. I think @Sailor should have $MSTR Another $4.3 billion will be borrowed to purchase it. Who agrees with me?
— Peter Schiff (@PeterSchiff) October 8, 2024
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why is it important: Schiff's proposal is particularly noteworthy given his previous criticism of Thaler and his approach to Bitcoin. He has previously slammed moves on corporate balance sheets, including Bitcoin, calling it gambling with shareholder funds.
He also questions the “never sell Bitcoin” strategy advocated by Saylor, who is also a presidential candidate. donald trump In the middle of the campaign.
The Bitcoin Strategy Handbook has successfully turned around MicroStrategy's fortunes, with the company's stock soaring 1208% since August 2020, while Bitcoin itself has risen just 445%.
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The article Peter Schiff encourages MicroStrategy founder Michael Saylor to 'borrow' another $4.3 billion to buy US Bitcoin to be sold originally appeared on Benzinga.com
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