Peter Schiff came back swinging on his July 15 podcast episode with fresh digs at Bitcoin. He warned holders sitting near current prices will soon wish they had cashed out because another steep drop is on the horizon 🖤.
He also picked apart Strategy for selling 450 million dollars in common stock instead of touching its Bitcoin stash. That move screams how trapped Michael Saylor’s firm really feels.
Schiff Shares His Bitcoin Views and Snaps at Saylor 🌙
On the show he quietly confessed Bitcoin has held up better than expected even while risks keep piling up underneath. The economist admitted he should have grabbed some fifteen years ago when he first learned about it but recent years have cooled that old regret ✨.
“I don’t regret not buying it three four five years ago” he told listeners “but yeah fifteen years ago sure I should have bought it.”
Still he insists anyone clinging to the original crypto right now will soon feel the sting. He sees resistance near sixty five thousand dollars and support around fifty eight thousand. If that floor cracks Bitcoin might slide under fifty thousand before settling somewhere between thirty thousand and twenty thousand 💀.
“The people who don’t sell it now they’re going to be the ones that are going to have a lot of regrets” he cautioned.
At press time BTC hovered a few hundred dollars below sixty five thousand after climbing nearly four percent on softer than expected US CPI data.
Schiff then swung back to his favorite target Strategy noting the company had gone three full weeks without buying or selling Bitcoin since offloading three thousand five hundred eighty eight coins earlier. Instead it raised four hundred fifty million dollars through a stock sale lifting cash reserves to three billion while its own shares still trade at a massive discount to its Bitcoin stack 🦇.
He called the stock sale pointless dilution and claimed Strategy avoided selling crypto only because that would crush the price anyway.
“Saylor knows if he starts really selling Bitcoin the price is going to crash” he said “now the problem is it’s going to crash anyway because the market realizes the bind he’s in and even if he doesn’t sell the market is going to crash out from under him.”
Corporate Treasury Debate Gets Darker 🕸️
Schiff’s latest barbs land just as analysts rethink corporate Bitcoin stacking with Strategy leading the pack. A recent QCP Capital report noted that even Strategy’s tiny sale of thirty two coins back in late May shifted how investors evaluate these companies.
Many now watch cash buffers equity raises and funding health more closely to gauge whether future buys can last instead of just chasing flashy headlines.
Just another echo from the void by iconofsin.eth 💖
