Bitcoin vs. Gold: Is the MicroStrategy Premium Gone for Good?
Peter Schiff is sounding the alarm on Michael Saylor's entire playbook.
Schiff claims Strategy's model is broken now that the stock trades below its actual Bitcoin net asset value. With the premium gone, Saylor can no longer print overpriced stock to buy more $BTC. Instead, he's relying on preferred stock, which is now yielding an unsustainable 15% in the market as investors price in massive risk.
Schiff warns of a "Death Spiral": if Bitcoin drops further, Strategy will be forced to become a net seller of BTC just to service its debt, crushing the price of Bitcoin in a brutal feedback loop.
Meanwhile, Schiff predicts Gold will effortlessly break past $5,000 and target $6,000 by next year.
#BTC Price Analysis#
#Bitcoin Price Prediction: What is Bitcoins next move?#
Peter Schiff is sounding the alarm on Michael Saylor's entire playbook.
Schiff claims Strategy's model is broken now that the stock trades below its actual Bitcoin net asset value. With the premium gone, Saylor can no longer print overpriced stock to buy more $BTC. Instead, he's relying on preferred stock, which is now yielding an unsustainable 15% in the market as investors price in massive risk.
Schiff warns of a "Death Spiral": if Bitcoin drops further, Strategy will be forced to become a net seller of BTC just to service its debt, crushing the price of Bitcoin in a brutal feedback loop.
Meanwhile, Schiff predicts Gold will effortlessly break past $5,000 and target $6,000 by next year.
#BTC Price Analysis#
#Bitcoin Price Prediction: What is Bitcoins next move?#