news 
‘Running out of Firepower’: Schiff Roasts Saylor’s Latest Bitcoin (BTC) Purchase
Renowned economist Peter Schiff has taken aim at MicroStrategy CEO Michael Saylor over his latest Bitcoin purchase. In a series of tweets, Schiff lambasted the notion that investing in cryptocurrency is a viable strategy for corporations.
Schiff pointed out that MicroStrategy’s approach to using debt to fund their Bitcoin purchases raises significant concerns about risk and sustainability. He highlighted that the company has tied up a substantial portion of its capital in Bitcoin, which could lead to catastrophic consequences if the price of BTC drops significantly.
“If Saylor can’t even convince his own board to support his reckless Bitcoin bets, how is he going to convince investors?” Schiff tweeted, echoing concerns about the viability of MicroStrategy’s strategy.
Source: u.today
