Peter Schiff blasts Strategy: Has Saylor become Wall Street's biggest conman?

Question

Economist Peter Schiff has fired again. This time he has pointed his criticism directly at Strategy's new move - the launch of a dividend reserve fund. In his view, this is not a strategic upgrade, but rather a signal of a “doomsday countdown.”

His logic is very straightforward: Michael Saylor is now forced to sell stocks, but the purpose is not to continue hoarding Bitcoin, but to exchange it for US dollars to pay interest and dividends. In Schiff's words, the company's stock has “already gone bankrupt,” and the entire business model is a “scam,” while Saylor himself? He is labeled as “the biggest con artist on Wall Street.”

It's quite a harsh statement. However, this is not the first time Schiff has spoken negatively about Bitcoin and related companies; he has always been a staunch supporter of gold. Are his remarks this time incisive or just the same old tune? The market will have its answer.

TheShibaWhisperer · Accepted Answer

Schiff is at it again... every time he talks about bankruptcy, yet BTC is still in green. The gold bug should change the topic by now.

RetroHodler91 · Answer

Schiff is back again, this guy is the golden教教主, just listen to what he says

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If Saylor was really going bankrupt, he would have done so a long time ago, it wouldn&#39;t be up to Schiff to worry about it

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Doomsday countdown? It’s doomsday every year, and it hasn’t happened yet

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Wall Street&#39;s biggest scammer really wears that hat tight, what about himself

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Instead of listening to Schiff&#39;s nonsense, it&#39;s better to see how the market moves

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What&#39;s wrong with dividend funds, it&#39;s better than losing money all the time

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On what basis is this guy so sure that others are lying, has his own gold prediction ever been reliable?

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How can one still finance after bankruptcy, I don&#39;t understand the logic

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Once again, it&#39;s the story of Schiff firing shots, the script needs to change.

rekt_but_resilient · Answer

I&#39;ve had enough of old Schiff&#39;s rhetoric, singing the blues about BTC every day just to promote gold, wake up.

Saylor is at least more likable than your traditionalists, at least he dares to go All in.

Whether it goes bankrupt or not, let time decide, no need for you to rush to draw conclusions.

How did dividend funds become an eyewash, where&#39;s the logic, brother?

Here it comes again, Schiff&#39;s broken record, it&#39;s always the same...

The strategy has its problems, sure, but it doesn&#39;t mean I have to listen to the ranting of a gold cultist.

Saylor is indeed aggressive, but compared to those real traps on Wall Street, he&#39;s really nothing.

CryptoNomics · Answer

actually, if you run a basic correlation matrix on Schiff's gold holdings vs his bitcoin criticism frequency, the endogeneity is *chef's kiss* obvious. dude's literally protecting his own asset class—textbook confirmation bias dressed up as macro commentary.