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**Companies Buying Bitcoin is Not a Good Investment Strategy, Says Peter Schiff**

Renowned economist and investor Peter Schiff has sparked controversy once again by claiming that companies buying Bitcoin is not a viable long-term business model. This statement comes as GameStop, a major American video game retailer, announced its plans to invest in Bitcoin.

Schiff, known for his bearish views on cryptocurrencies, took to Twitter to express his skepticism about the viability of corporate investment in Bitcoin. He stated that “companies buying #Bitcoin is not a good investment strategy” and that “it’s a speculative bubble.”

While some commenters agreed with Schiff’s stance, others questioned his expertise and pointed out that he has consistently missed the boat on crypto market trends.

Despite Schiff’s criticism, GameStop has reportedly already started buying Bitcoin, and several institutional investors have followed suit. MicroStrategy, a business intelligence company, has led the charge by investing heavily in Bitcoin under the leadership of its CEO Michael Saylor.

Many investors remain optimistic about GameStop’s future prospects, citing the success of similar investment strategies employed by MicroStrategy. However, Schiff remains unconvinced and continues to warn investors against getting caught up in what he sees as a speculative bubble.

In light of this development, we will continue to monitor GameStop’s Bitcoin adoption plan closely and explore its potential implications for the broader market.

Source: https://u.today/buying-bitcoin-not-viable-long-term-business-model-says-peter-schiff