Not long ago, MicroStrategy accumulated 1,070 Bitcoins for $101 million, which has attracted the attention of investors.
On the other hand, Michael Saylor has unveiled that the firm bought 258,320 BTC in 2024, whose worth is estimated to be $22.07 billion.
Schiff argued that the exploited Bitcoin purchase move will lead to the MSTR stock crash first as compared to Bitcoin
MicroStrategy (MSTR) stock has experienced heavy pressure in the middle of a notable pullback in Bitcoin in the recent past. Significantly, the stock shut down about 10% low on January 7, at the same time it carried on its slumping momentum in the pre-market session today.
In between all these, a prominent Bitcoin critic and economist, Peter Schiff has altered for a probable MSTR price crash in the near future, as the BTC selloff boosts. He also alerted the community regarding the imminent MicroStrategy (MSTR) stock crash. The forecast is a result of MSTR experiencing significant pressure, having its stock price dropping 10% on January 7.
The clue from the economist
At the same time, the economist ascribes the probable crash to the boosting Bitcoin selloff. Apart from that, he gave a clue that the US government is not going to purchase Bitcoin, as Donald Trump guaranteed at the time of his election campaigns.
It is noteworthy that Bitcoin has experienced a big rally after the win of Donald Trump with increasing confidence in the US adopting a Bitcoin Strategic Reserve. Peter Schiff further went on to say that once it is clear that the US government will not be purchasing Bitcoin, investors who anticipate benefits from front-operating will sell.
Sequentially, this will pressure the co-founder of MicroStrategy, Michael Saylor to boost the exploited Bitcoin purchases of the company to set back the impending crash. It is also noteworthy that the stock of MicroStrategy is closely linked with the performance of Bitcoin with the firm holding more than 1% of the Bitcoin’s total supply.
The probable crash
At the same time, a probable crash could have extensive implications for MicroStrategy stock as well as the wider crypto market. Schiff also mentioned that the exploited Bitcoin purchase move will lead to the MSTR stock crash first as compared to Bitcoin.
Not long ago, MicroStrategy accumulated 1,070 Bitcoins for $101 million, which has attracted the attention of investors. On the other hand, Michael Saylor has unveiled that the firm collected 258,320 BTC in 2024, whose worth is estimated to be $22.07 billion.
The company’s founder also disclosed plans to raise $2 billion in capital by issuing perpetual preferred stock in the first quarter of 2025. This initiative is part of the company’s strategy to acquire more Bitcoin and to further solidify its financial position.
