Michael Saylor's successful cryptocurrency strategy with Bitcoin faces skepticism from Peter Schiff.

From Investing.com

September 9, 2024 4:30:23 PM:

Michael Saylor of MicroStrategy discussed the company’s successful cryptocurrency strategy, capitalizing on Bitcoin’s 44% annual rise. The stock rose 825% since the strategy began, outperforming Nvidia. Despite positive reactions, critics like Peter Schiff doubt the sustainability of these gains, pointing out recent stock price declines.

MicroStrategy stock trades at $121, up 90% this year, while Bitcoin has seen a 30% increase in the last nine months. Saylor himself sold MSTR shares earlier this year, coinciding with a 37% price drop in April. The debate between Saylor and Schiff continues as billions of dollars are on the line.

Read more at Investing.com: Peter Schiff Gives Bitcoin Bull Michael Saylor Grim Warning By U.Today