2024

Bitcoin

April

<ul> 
 <li aria-level="1">Peter Schiff expresses concerns about MicroStrategy’s sustainability, noting stock remains 40% below its 52-week high.</li> 
 <li aria-level="1">MicroStrategy’s shares currently trade at about $121, reflecting a more than 90% increase since the start of the year.</li> 
</ul> 
Michael Saylor, the CEO of MicroStrategy, recently discussed his company’s investment in Bitcoin on CNBC, outlining the significant gains MicroStrategy has achieved by holding a large amount of the cryptocurrency.&nbsp; 
The company’s investment strategy has seen its stock increase by 825% since it started accumulating Bitcoin, a rise that exceeds even that of tech giant Nvidia. Despite these gains, Peter Schiff, <a href="https://www.ethnews.com/peter-schiff-celebrates-golds-peak-as-bitcoin-struggles/">always a critic of BTC investments</a>, offered a cautious perspective.&nbsp; 
Peter Schiff <a href="https://x.com/PeterSchiff/status/1833144216479731923">noted</a> that MicroStrategy’s shares are trading 40% under their highest value in the past year and 6% below their peak in 2021, raising doubts about the durability of their recent financial performance. He warned that the company’s stock could potentially experience additional drops. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 What a bunch of nonsense. CNBC is too beholden to their crypto advertisers to really push back against your false statements. MSTR is down 40% from its 52-week high and is 6% below its 2021 high. The actually returns are not nearly as rosy as you describe and will soon get worse. 
 — Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1833144216479731923?ref_src=twsrc%5Etfw">September 9, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
At present, MicroStrategy’s shares are valued at around $121, up more than 90% since the year began. Bitcoin itself has also seen a substantial rise, increasing 30% over the past nine months.&nbsp; 
It’s noteworthy that Saylor, despite his public support for MicroStrategy’s strategy, sold some of his company shares earlier in the year. This sale occurred in late April when shares reached $173, followed by a significant drop of more than 37% in their value that month. 
This situation underscores the volatile nature of investing in cryptocurrencies and their impact on related stocks. 
While some industry observers like Saylor view cryptocurrency as a potent vehicle for corporate growth and shareholder value, skeptics like <a href="https://www.ethnews.com/peter-schiff-challenges-bitcoin-bullish-sentiment-amid-market-slump-questions-real-institutional-demand-for-cryptocurrency/">Schiff warn</a> of the risks and potential instability associated with such strategies. 
The post <a href="https://www.ethnews.com/peter-schiff-warns-microstrategys-bitcoin-success-not-guaranteed/">Peter Schiff Warns: MicroStrategy’s Bitcoin Success Not Guaranteed</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

Peter Schiff Warns: MicroStrategy’s Bitcoin Success Not Guaranteed

ETHNews

Other articles published on Sep 10, 2024

Seller Fatigue? Altcoins Open Interest Falls 55% From March ATH

Crypto.com Announces Strategic Partnership with Standard Chartered Bank to Expand Global Retail S...

This Time Scammers Used Apple CEO: They Wanted Bitcoin and Ethereum!

How To Cashout CS2 Skins With Cryptocurrencies

7 Essential Books You Must Read

[NEOPIN 3.0 Guide] Staking(WEB)

Join our free newsletter for daily crypto updates!