{"id":9070,"date":"2024-03-20T10:45:21","date_gmt":"2024-03-20T10:45:21","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/peter-schiff-questions-true-agenda-behind-microstrategys-bitcoin-acquisition\/"},"modified":"2024-03-20T10:45:21","modified_gmt":"2024-03-20T10:45:21","slug":"peter-schiff-questions-true-agenda-behind-microstrategys-bitcoin-acquisition","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/peter-schiff-questions-true-agenda-behind-microstrategys-bitcoin-acquisition\/","title":{"rendered":"Peter Schiff Questions True Agenda Behind MicroStrategy\u2019s Bitcoin Acquisition"},"content":{"rendered":"

Michael Saylor\u2019s MicroStrategy is currently in the limelight, as Gold advocate and Bitcoin critic Peter Schiff spells out the real intentions behind the tech company\u2019s large BTC accumulation over time.<\/p>\n

<\/span>Peter Schiff Unveils Michael Saylor\u2019s Intentions In Bitcoin Buys<\/span><\/h2>\n

Peter Schiff disclosed<\/a> the information about the Tysons-based tech firm on the social media platform X on Tuesday, causing quite a stir within the crypto community. Firstly, Schiff highlighted that the firm is currently \u201csuffering a loss of over $115 million on the Bitcoin it recently purchased using borrowed funds.\u201d<\/p>\n

As a result, Schiff is curious why Michael Saylor continues to take out loans from its MSTR shares to purchase BTC, following a significant increase in the coin\u2019s price.<\/p>\n

According to the Gold advocate, it appears Michael Saylor carried out these moves with the main aim of \u201cmanipulating the price of Bitcoin to move up\u201d while \u201cselling off his own MSTR shares.\u201d<\/p>\n

The post read:<\/p>\n

\n

MSTR is already down over $115 million on the BTC it just bought with borrowed money. I wonder why Michael Saylor always borrows money to buy Bitcoin after a big move-up. It looks like his true intention is to manipulate the Bitcoin price higher as he dumps his own MSTR shares.<\/p>\n<\/blockquote>\n

Schiff also mentioned<\/a> in another X post that MicroStrategy shares are \u201cdown by over 16%,\u201d which might be due to the company selling the stocks to acquire more BTC. \u201cBitcoin Spot Exchange-Traded Funds (ETFs) they have boosted are down by 6% and MSTR has fallen by 16%,\u201d Schiff stated.\u00a0<\/p>\n

He further claimed that even after more than 3 hours of market coverage, \u201cnot once did CBNC talk about BTC nor the company\u2019s favorite stock MSTR.\u201d In addition, he stated that \u201cCBNC is not telling its audience anything, while Bitcoin whales discreetly liquidate their stockpiles.\u201d<\/p>\n

Schiff\u2019s revelation came in light of MicroStrategy\u2018s latest Bitcoin acquisition, purchasing around 9245 BTC valued at $623 million, in one week. MicroStrategy completed another convertible note offering to expand its BTC holdings, and presently, the company boasts 1% of the crypto asset\u2019s overall supply.<\/p>\n

When it comes to Bitcoin, Microstrategy has become one of the largest entities devoted to holding the digital asset. So far, the company has acquired about 190,000 BTC worth approximately $9.9 billion and does not have any plans to sell the asset.<\/p>\n

<\/span>Problem With Owning BTC Through ETFs<\/span><\/h2>\n

Schiff continues to criticize the largest cryptocurrency asset, expressing<\/a> concerns regarding owning BTC through exchange-traded products. According to Schiff, \u201cowning the coin\u201d through an ETF has several setbacks, one of which is its \u201climited liquidity to US market hours.\u201d<\/p>\n

This is because if the market crashes during the night, investors will be \u201cunable to sell\u201d until the US market opens for business again the following morning, which can be extremely annoying to watch helplessly while being \u201cunable to get out.\u201d Thus, he believes that having your own BTC is a far \u201cbetter choice\u201d than paying a third party to store it with limited liquidity.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Michael Saylor\u2019s MicroStrategy is currently in the limelight, as Gold advocate and Bitcoin critic Peter Schiff spells out the real intentions behind the tech company\u2019s large BTC accumulation over time. Peter Schiff Unveils Michael Saylor\u2019s Intentions In Bitcoin Buys Peter Schiff disclosed the information about the Tysons-based tech firm on the social media platform X […]<\/p>\n","protected":false},"author":1,"featured_media":8756,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Peter Schiff Questions True Agenda Behind MicroStrategy\u2019s Bitcoin Acquisition - Bitrabo","description":"Michael Saylor’s MicroStrategy is currently in the limelight, as Gold advocate and Bitcoin critic Peter Schiff spells out the real intentions behind the t"},"footnotes":""},"categories":[316],"tags":[2667,1503,448,2426,906,2256,1427,2666],"class_list":["post-9070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-acquisition","tag-agenda","tag-bitcoin","tag-microstrategys","tag-peter","tag-questions","tag-schiff","tag-true"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/9070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=9070"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/9070\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/8756"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=9070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=9070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=9070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}