Economist and Bitcoin critic Peter Schiff recently mocked Michael Saylor, a prominent Bitcoin supporter, over Saylor’s views on Bitcoin’s volatility. The exchange began when Saylor tweeted that Bitcoin’s price swings contribute to its value, seeing these fluctuations as a positive sign for the cryptocurrency.
Schiff disagreed and sarcastically suggested that if volatility truly equates to value, then meme stocks like Donald Trump’s DJT memecoin must be even more valuable.
Is there more than what meets the eye here?
Saylor’s recent statement highlights his belief that Bitcoin’s price swings are essential for its value growth. As one of Bitcoin’s strongest advocates, Saylor has invested heavily through MicroStrategy, often arguing that volatility is part of Bitcoin’s journey toward broader adoption.
He sees these price fluctuations as temporary, believing that Bitcoin will eventually stabilize and gain more value over time.
Under Saylor’s leadership, MicroStrategy has become the largest institutional holder of Bitcoin. The company currently owns 252,220 bitcoins, purchased at an average price of $39,292.18 per bitcoin, amounting to about $9.91 billion.
This massive holding accounts for approximately 1.2% of Bitcoin’s total supply, showcasing Saylor’s confidence in the cryptocurrency’s long-term potential.
In his response, Schiff challenged Saylor’s views by suggesting that if volatility alone determines value, MicroStrategy should “lever up” again and borrow another billion dollars to buy DJT stock.
His comment aimed to question the logic behind Saylor’s belief in Bitcoin’s price swings as a positive indicator of its value.
Despite Schiff’s criticism, Saylor stands firm in his belief that Bitcoin is the century’s best-performing asset. He describes it as a revolutionary form of digital wealth, a hedge against inflation, and a strong store of value. Saylor expects Bitcoin’s volatility to keep attracting investors seeking high returns.
Currently, MicroStrategy holds 252,220 bitcoins, with an average purchase price of $39,292.18 per bitcoin, amounting to a total investment of $9.91 billion. This makes MicroStrategy the largest corporate holder, owning about 1.2% of Bitcoin’s total supply.
Saylor sees Bitcoin as the century’s top-performing asset, describing it as a revolutionary form of digital wealth, an inflation hedge, and a powerful store of value. He expects its volatility to keep attracting investors aiming for high returns.
Is this a new feud brewing? Is Bitcoin’s volatility a blessing in disguise or a ticking time bomb? Tell us your views.
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