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Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Capital, questions Strategy's latest actions regarding Bitcoin.
He suggests the company is sacrificing common shareholders by delivering a negative Bitcoin yield in order to continue paying yield on preferred shares and support the Bitcoin price.
Schiff previously argued that major Bitcoin purchases by Strategy and other firms, rather than recent sales, were the main drivers behind the recent price surge here. He has also warned that complacency in the market could lead to a sharp drop below $20,000 if the $50,000 level fails here. Schiff’s recent comments add to his ongoing critique of Bitcoin-related strategies by institutional investors.