Peter Schiff thinks Microstrategy buying rate is unsustainable.

[ZAINmalik75]

Yeah, what could possibly go wrong?

I can't think of any.

In the worst case scenario, they simply stop buying more Bitcoin. They don't have to continuously buy Bitcoin for their company to survive.

He still seems to think that Microstrategy buying coins makes Bitcoin go up, as if that behavior hasn't already been priced in the first few times they've done this sort of thing.

No wonder old minds' thoughts are not that reliable he thinks MSTR buying has pumped the price of BTC alone someone please tell him they have not started buying BTC newly they have been buying from many years. ETFs government adoption and Trump's win made the demand high and the market is bullish.

BTC is a few thousand dollars away from touching $100k. It will hit $100k target in no time maybe before 15th of November. November month has proven to be a bullish month for BTC in all the bullish years. The worst can happen is company might bankrupt if the loan is high but they won't become that greedy and take that high risk.

[TomPluz]

I really don't understand why Peter Schiff continues to insert himself into the scene especially when Bitcoin is doing a big bull run right now. Maybe it is because he is trying to salvage any significance left of him and is trying to hold his own dwindling audiences so he would say anything...will criticize anything related to Bitcoin and is trying to wage a war against Michael Saylor and his MicroStrategy. Mind your own business, Mr. Peter Schiff and concentrate your own focus on GOLD as there are certainly many things to talk about on that. Peter is a big evangelist for gold and unfortunately gold is losing its glitter after Trump got elected and it is Bitcoin that is going to the moon, and this can be the big reason why Peter seems to be so upset.

[LUCKMCFLY]

No wonder old minds' thoughts are not that reliable he thinks MSTR buying has pumped the price of BTC alone someone please tell him they have not started buying BTC newly they have been buying from many years. ETFs government adoption and Trump's win made the demand high and the market is bullish.

BTC is a few thousand dollars away from touching $100k. It will hit $100k target in no time maybe before 15th of November. November month has proven to be a bullish month for BTC in all the bullish years. The worst can happen is company might bankrupt if the loan is high but they won't become that greedy and take that high risk.

Well, things with BTC will certainly be like this. In fact, I am one of those who think that it can reach $100k this year. Of course, that is what can happen. Without being an expert in prediction, I think that many see it that way. But Peter Schiff is someone who has always been against gold. It is difficult for him to understand that things have and move like this with money.

Sometimes it is confusing that they make statements that are like this, but I am just saying something. Those who believe what they want to believe and do, reality is something else.

[bayu7adi]

Saylor said that Mstr plans to invest 40B USD to accumulate BTC in the future, and Mstr also has a plan to introduce a BTC bank when there are enough BTC in the reserve account. Clearly, Saylor and Mstr do not need advice from an anti-BTC person like Peter Schiff.

From another perspective, I don't think Peter Schiff really hates BTC, he is very interested in BTC and often mentions BTC. I wouldn't be surprised if tomorrow he announced that he has accumulated billions of USD worth of BTC.

If the goal is to hold $40B, then they are already 55% of the way there..it is interesting to see the move to turn MSTR into a Bank, but the downside is will the decentralized nature of Bitcoin slowly fade away when it is in the hands of one big company? Isn't this decentralized nature something that many people in the crypto world pride themselves on?

As for Peter Schiff, I don't really care... haters will be haters and no one is forcing him to like what others are doing... if he really wants to use bitcoin to gain personal advantage in secret, let him swallow his own spit.

[Zed0X]

Well, nobody thinks they have unlimited supply of fiat to sustain the continues buying of BTC. If he's implying another bubble about to burst or whatever he thinks could go wrong because of one company, then just let him be. He's been spouting that for so many years and yet people still buys bitcoin.