Michael Saylor The ‘Egg Man’? Peter Schiff Points Out A Potential Pitfall Of MicroStategy’s $42B Debt-Funded Bitcoin Bet
On Thursday, influential economist Peter Schiff took a swipe at MicroStrategy Inc.(NASDAQ:MSTR) CEO Michael Saylor’s $42 billion Bitcoin (CRYPTO: BTC) investment strategy, likening it to a market trap.
What Happened: Schiff took to X, formerly Twitter, and compared Saylor to “the Egg Man” in a metaphorical critique of his Bitcoin investment plans.
Schiff used an egg futures analogy to express his concerns about Saylor’s strategy. He suggested that MicroStrategy could end up holding a large amount of Bitcoin with no potential buyers, should the market turn.
“Sell to whom, you’re the egg man!” Schiff concluded, implying that Saylor’s aggressive Bitcoin buying could potentially trap the company in a volatile market.
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