⚡ MicroStrategy’s BTC Acquisition Streak Backs Schiff’s Insights
posted 16 Dec 2024
December 16 saw Michael Saylor announce yet another BTC acquisition for MicroStrategy. Six weeks of consistent buying seem to validate Schiff’s pointed critiques.
MicroStrategy has reportedly acquired an additional 15,350 BTC for around $1.5 billion, with an average purchase price of ~$100,386 per coin. As of December 15, the company’s total Bitcoin reserves reached 439,000 BTC, bought at an average price of approximately $61,725.
Michael Saylor stated that the company’s returns have been impressive, with a 46.4% gain since the start of the quarter and a 72.4% increase year-to-date.
This news emerged shortly after gold advocate and vocal Bitcoin skeptic Peter Schiff shared an observation. With Bitcoin’s price hitting a new record high of over $106,600,
Schiff claimed to notice a recurring pattern: Saylor often announces MicroStrategy’s purchases early in the week following a BTC rally.
#Bitcoin is at a new all-time high again tonight. Most likely, we will find out tomorrow that @Saylor was the buyer. That seems to be the trend, as it's happened the last five Mondays in a row,Peter Schiff wrote on X.
A user later asked Schiff why he doesn’t buy BTC before MicroStrategy does if he’s already identified such a trend. Schiff responded, saying his wife keeps telling him the same thing.
More breaking news
More breaking news
Breaking news
📣 CyberKongz NFT Project Under SEC Scrutiny
