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But we saved everything 🙂.
Investors now want yield over Bitcoin upside, Peter Schiff notes
Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Capital at Euro Pacific Capital, observed that in February 2021, Strategy raised funds for MSTR to purchase Bitcoin by issuing 0% convertible senior notes. Schiff highlights that, at the time, investors wanted exposure to Bitcoin’s potential upside by owning MSTR.
Now, Schiff points out, Strategy is forced to pay 11.5% on its debt, as investor interest has shifted away from Bitcoin's upside to a preference for yield.
Schiff has previously urged Bitcoin holders to sell when BTC remained above $65,000, instead recommending a switch to gold in a prior market call. He has also announced the launch of the Schiff Gold App, which offers physical precious metals delivery and plans to add virtual gold. These actions reflect Schiff's ongoing focus on gold as an alternative asset.
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