Peter Schiff again directly targets Saylor "MicroStrategy's Bitcoin returns not even 17%"

Doohyun Hwang

Summary

Peter Schiff, chief economist at Euro Pacific, said MicroStrategy's Bitcoin investment strategy, despite investing US$48 billion over the past five years, has returns that do not even reach 17%.
Schiff said that MicroStrategy Chairman Michael Saylor would have had better company performance if he had bought other assets instead of Bitcoin.
He assessed that the gold-denominated price of Bitcoin has fallen by about 40% and that the digital gold narrative is wavering.

Peter Schiff, a prominent Bitcoin (BTC) skeptic and chief economist at Euro Pacific, again strongly criticized MicroStrategy's Bitcoin investment strategy.

On the 21st (local time), Schiff said on his X, "MicroStrategy has spent more than US$48 billion buying Bitcoin over the past five years, but its current book profit does not even reach 17%," and asserted, "If MicroStrategy Chairman Michael Saylor had bought assets other than Bitcoin, the company's performance would have been better."

Earlier on the 19th, Schiff also directly criticized Saylor's management strategy. He said, "MicroStrategy's strategy is practically close to a 'fraud'," and "I believe that no matter how the company conducts its business, it will eventually go bankrupt."

Schiff compared the relative values of gold (金) and Bitcoin, saying the digital gold narrative is shaking. He evaluated, "Although the price of gold remains above US$4,000 per ounce, Bitcoin's gold-denominated price has fallen by about 40%," and "Now the digital gold narrative is collapsing."

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