Weekend Round-Up: Bitcoin’s Crash, Peter Schiff’s Speculations And More
This week was a rollercoaster ride in the world of cryptocurrencies. Bitcoin’s crash to $60,000 has stirred up a storm, with Two Prime’s CEO suggesting that Strategy’s CEO may have flown too close to the sun. Meanwhile, economist Peter Schiff speculated about the potential implications of Bitcoin’s latest crash for the broader risk-asset market.
Let’s dive into the details.
Bitcoin’s Crash: A Sign of Strategy’s Overreach?
According to Two Prime’s CEO, Strategy’s average cost basis near $75,700 has led to more than $10 billion in unrealized losses. With three competing camps to satisfy, DACM founder Richard Galvin warns that one group will have to “take the pain to protect the other two.”
Peter Schiff’s Bitcoin Speculations
Economist Peter Schiff has speculated on the potential implications of Bitcoin’s latest crash on the broader risk asset market. He wonders …
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