Peter Schiff is back at it—taking fresh jabs at MicroStrategy’s Michael Saylor as Bitcoin tumbles below the $80,000 mark. In a pointed tweet, Schiff tagged Saylor and dared him to go all in: “Now that Bitcoin is below $80K, if you want to prevent it from crashing below your average cost of $68K, you had better back up the truck with borrowed money today and go all in.”
This isn’t the first time Schiff has taken a swipe at Saylor’s aggressive Bitcoin strategy. Just recently, when MicroStrategy (MSTR) stock dropped by 11%, Schiff didn’t waste the opportunity to throw shade again.
At the time of writing, Bitcoin (BTC) is trading at $78,950.85, down 5.36% in the past 24 hours. Its market cap stands at $1.56 trillion, with a 24-hour trading volume of $42 billion—up over 190%.
In response to his latest tweet, a crypto trader tried to cool things down by pointing out that everything is down in the markets, not just Bitcoin. But Schiff wasn’t having it. “But Bitcoin was sold as a safe haven/store of value,” he replied. “If during market selloffs it crashes more than other assets, what value does it offer investors?”
The discussion didn’t stop there. One user questioned when Saylor’s borrowing-heavy crypto play might backfire. Schiff answered bluntly, “It will end with the bankruptcy of MSTR.”
Schiff’s relentless criticism of Bitcoin and Saylor’s strategies has become a recurring theme in crypto circles. And as BTC hovers near a key psychological level, the tension—and the commentary—isn’t going anywhere soon.
Also Read: Peter Schiff Bats for Gold as Safe Haven, Bitcoin a Risk Asset
