Peter Schiff is once again back with his staunch anti-Bitcoin views. The notable economist is known to project strong anti-BTC views, often promoting gold as a better alternative as compared to Bitcoin. Schiff has openly called out Strategy in his recent X tweet, calling the company a fraud, among other things.
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Schiff Calls Out Saylor, Touts MSTR as a Fraud Company
Peter Schiff is once again gaining the central spotlight, as he was noted calling out MSTR in his latest X post. Schiff condemned MSTR in his recent tweet, adding that the entire MSTR business model is fraudulent. He later called out Strategy’s former CEO, Michael Saylor, to debate with him, as they both will be speaking at Binance Blockchain Week in Dubai in early December. In addition to this, Schiff predicted how MSTR is bound to go bankrupt one way or the other, as it’s already running on a fraud model.
“MSTR’s entire business model is a fraud. Saylor and I will both be speaking at Binance Blockchain Week in Dubai in early December. I challenge @saylor to debate this proposition with me. Regardless of what happens to Bitcoin, I believe $MSTR will eventually go bankrupt. Let’s go!”
Schiff has earlier mentioned MSTR’s income-oriented business model and how it’s bound to fail miserably in the future.
“MSTR’s business model relies on income-oriented funds buying its “high-yield” preferred shares. But those published yields will never actually be paid. Once fund managers realize this, they’ll dump the preferreds & $MSTR won’t be able to issue any more, setting off a death spiral.”
Peter Schiff and Bitcoin: A Feud That Goes On
Peter Schiff is notorious for holding strong anti-Bitcoin sentiments. Schiff has often been noted for sharing how he thinks Bitcoin has no value and the asset is bound to collapse one way or the other.
“The crypto community is circling the wagons to defend $100K Bitcoin. But without a U.S. government bailout, their efforts will fail. The momentum’s gone, the train can’t be stopped, and the troops will soon break ranks in a mad rush to bail out.”
Also Read: Peter Schiff Doubles Down On Bitcoin, Ethereum Critique: Is He Right?