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Crypto

Peter Schiff rebuts Michael Saylor\'s $1 million bitcoin call

Strategy bought an additional 3,273 bitcoin, taking its total holdings to 818,334, as bitcoin traded around $77,850. The company said it spent about $255 million at an average price of $77,906 per coin, funded by a share sale program. Economist and bitcoin skeptic Peter Schiff criticised Michael Saylor’s view that bitcoin could reach $1 million if the firm amassed 5 percent of supply, and warned about funding risks tied to STRC.

Crypto

Strategy holds 815,061 bitcoins as valuation tops $63.46 billion

Strategy’s bitcoin holdings hit a record valuation of $63.46 billion as of April 26, holding 815,061 BTC bought across 107 purchases at an average price of $75,528 per bitcoin. The value rose by about $2.0 billion in the past week. The company bought 34,164 BTC last week for about $2.54 billion. Funding came from selling STRF and on-market sales of MSTR shares. Market talk of 1 million BTC has resurfaced.

Crypto

Peter Schiff says Strategy\'s bitcoin strategy could turn into a \'death spiral\'

Bitcoin bear and economist Peter Schiff warned that Strategy’s bitcoin-buying plan could fall into a “death spiral”. He said the company’s funding structure using STRC preferred shares could weigh on both its stock price and bitcoin. Schiff pointed to the gap between bitcoin holdings and cash payout obligations, arguing STRC dividends could force Strategy to sell bitcoin or keep issuing more shares. Michael Saylor rejected the criticism and proposed a public debate.