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Peter Schiff: Strategy prepaid zero-interest loan early instead of buying bonds at discount
Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Capital, argues that Strategy did not secure a bargain by buying back convertible bonds. Instead, he notes the company prepaid a zero-interest loan two years ahead of schedule at approximately present value. Schiff adds that the reported 8% discount reflects mainly the time value of money. He points out that while debt was reduced, the company forfeited free financing and used much-needed cash.
Schiff has frequently commented on market trends, recently highlighting the resilience in gold and silver mining stocks compared to Bitcoin. He also flagged the 30-year U.S. Treasury yield nearing a 19-year high while U.S. national debt surpassed $39 trillion in another recent note. His latest remarks continue a pattern of scrutiny regarding company and government financial decisions.
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