Peter Schiff Raises Alarm Over Strategy’s Massive Bitcoin Buy, Doubts Investment Prospects

Despite a significant Bitcoin purchase by publicly traded company Strategy, its CEO Peter Schiff has expressed concern over the move. The company recently acquired an additional 13,390 BTC worth $1.34 billion, boosting their holdings to nearly half of all bitcoin supply. Schiff argues this raises the average purchase cost above $70,000 – a level he believes will further dampen market sentiment and increase potential losses for Strategy. He suggests the next Bitcoin downturn could push prices below their already inflated purchase price, leaving them with significant unrealised losses.