The post Peter Schiff Mock Michael Saylor: Is Trump’s Meme Coin More Valuable Than Bitcoin? appeared first on Coinpedia Fintech News
Economist and Bitcoin critic Peter Schiff recently mocked Bitcoin supporter Michael Saylor’s view on Bitcoin’s volatility. The exchange began when Saylor tweeted that Bitcoin’s price swings add to its value, saying that this volatility is a positive sign for the BTC. Schiff, who disagrees, responded sarcastically by suggesting that if volatility equals value, meme stocks like Donald Trump’s (DJT) memecoin must be even more valuable.
Saylor: Volatility Good for Bitcoin
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.
Meanwhile, under Saylor’s leadership, MicroStrategy has become one of the largest institutional holders of Bitcoin. He famously borrowed funds to buy more Bitcoin during market dips, demonstrating his confidence in its long-term value.
Schiff Mocks Saylor’s Bitcoin Views
In response, Schiff mocked Saylor by suggesting that if volatility truly equals value, then meme stocks like Donald Trump’s DJT coin must be even more valuable.
According to Michael Saylor, #Bitcoin's value lies in its volatility. Well, $DJT is more volatile than Bitcoin, therefore it's more valuable. Why doesn't @Saylor lever up $MSTR some more, borrow another billion, and buy some DJT stock?
— Peter Schiff (@PeterSchiff) October 15, 2024
He went further, challenging Saylor’s belief in volatility by proposing that he “lever up” MicroStrategy again, borrowing another billion to buy DJT stock if volatility alone defines value.
MicroStrategy Bitcoin Holding
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.
