Peter Schiff mocks Saylor as Bitcoin nears cost basis, reignites gold debate

Peter Schiff, a prominent proponent of gold and well-known Bitcoin skeptic, has sparked renewed debate in the cryptocurrency community with his recent comments on Bitcoin’s price performance and investment strategy. Earlier today, Schiff posted on social media to congratulate Bitcoin supporters as Strategy, led by Michael Saylor, marked six years of actively accumulating Bitcoin. Schiff, who has consistently criticized Saylor and his company’s aggressive Bitcoin buying, used the anniversary to highlight what he described as disappointing returns. Schiff pointed out that the average purchase price for Strategy’s Bitcoin holdings now sits near $75,500 per BTC. With the recent decline in Bitcoin’s price, Schiff claimed that the firm’s impressive-sounding strategy has, so far, failed to deliver the high returns that Saylor had originally envisioned.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CoinTurk News.