Bitcoin trades near Strategy’s average cost as gold doubles since 2020

Prominent gold advocate Peter Schiff questioned Michael Saylor’s six-year Bitcoin investment strategy as Strategy’s treasury returns to near break-even levels, sparking renewed debate about the long-term performance of Bitcoin versus gold. Schiff argued that gold has significantly outperformed Bitcoin over the same period, challenging the rationale behind Saylor’s aggressive accumulation plan. Strategy’s Bitcoin portfolio hovered close to its average acquisition cost as BTC traded around $75,955 on November 7. A recent market downturn erased much of Bitcoin’s earlier gains, pulling the company’s accumulated holdings back toward break-even. According to a Securities and Exchange Commission filing from November 2, Strategy held 849,327 BTC as of November 1, after purchasing 811 additional BTC for approximately $65.5 million.

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