Peter Schiff Acknowledges Bitcoin’s Practical Uses, But Remains Skeptical

Controversial investor Peter Schiff surprised many by admitting to a potential practical use case for Bitcoin. Schiff cited investment manager Jim Chanos’ strategy of using Bitcoin to hedge his short position in MicroStrategy (MSTR) stock as an example. This acknowledgment came amidst growing skepticism about the company’s aggressive Bitcoin accumulation, which now totals nearly 570,000 BTC. Many see MSTR stock as a leveraged bet on Bitcoin, raising concerns over unnecessary corporate risk. ‍♂️ 💰