Peter Schiff, the American investor and bitter opponent of cryptocurrencies, has launched an attack on the cryptocurrency (BTC) and its biggest corporate supporter, Strategy. The economist warned in a recent post on platform X (formerly Twitter) that "the biggest regret for Strategy shareholders will be not selling."
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Peter Schiff, a long-time critic of Bitcoin, indicates that aggressive Strategy purchases of Bitcoin could backfire. According to Schiff's statements, the value of Bitcoin will not hold up in the long run. He believes the price will collapse, dragging down Strategy's stock with it.
His warning comes at a time when the price of Bitcoin remains volatile. Strategy's stock often moves in tandem with Bitcoin's price. When Bitcoin rises, Strategy's shares tend to rise. But the opposite is also true. This makes the company a high-risk bet for investors. Schiff believes that most shareholders do not fully understand this risk. He did not mention Saylor by name in his post, but the message was clear. He sees Strategy's approach to Bitcoin as reckless and dangerous. This is not the first time Peter Schiff has warned investors about Bitcoin. He has compared it to a bubble many times. He often says it has no intrinsic value and will ultimately head to zero. Despite his warnings, Bitcoin has bounced back several times over the years. Schiff's latest warning may not change opinions. But it adds to the ongoing debate about corporate strategies for Bitcoin.
