Peter Schiff warns of strategy causing huge loss amid 1.34 billion USD Bitcoin buy

MicroStrategy acquired 13,390 BTC for around 1.34 billion USD, raising its total Bitcoin holdings to 568,840 BTC, valued at more than 59 billion USD.

Economist Peter Schiff indicated that MicroStrategy’s strategy could result in real losses if Bitcoin prices fall below their average purchase cost of over 70,000 USD per BTC.