In a rather cheeky post on X, our friend Peter Schiff decided to throw a spanner in the works by declaring that Bitcoin is floundering like a fish out of water compared to its shiny counterpart, gold. You see, since that dizzy height back in November 2021, Bitcoin has decided to shed a staggering 30% of its value. Talk about a dramatic exit!
“Even with ETF approvals, MicroStrategy’s credit card bill, the election of a self-declared Bitcoin president, and national reserves suddenly playing with BTC — the price in gold terms continues to tumble faster than a toddler on a bumpy slide,” Schiff quipped.
Fresh off the press, Saylortracker has chirped in with the news that MicroStrategy’s latest Bitcoin bonanza is now sitting in the red—yikes! On March 31, they scooped up a hefty 22,048 BTC at an eye-watering price of $86,969 each, only to discover they’ve lost 5.08%. That’s about a $97 million ouch! 💸
Now, as for other purchases made in February and March, they too have taken a dive, sinking between 2% and 15%. The only exception? A measly 130 BTC bought on March 17, which is barely breaking even—now that’s what I call a nail-biting roller coaster! 🎢
“Digital Gold” Under Scrutiny
Schiff wasn’t finished there, oh no! He doubled down, insisting that Bitcoin is acting more like a wild, speculative beast than a steady gold nugget. “If it were truly digital gold, wouldn’t it behave more like gold and less like those penny stocks that sprout up during a bubble?” he mused, as he poked at Bitcoin’s tendency to mingle with risk-on assets, much to the horror of precious metal enthusiasts everywhere.
With a dramatic flourish, he declared, “As more investors begin to glimpse the truth behind the curtain, this narrative is crumbling faster than a cheap cookie in a toddler’s hand!” 🍪
His timing is impeccable, much like a well-timed pratfall, as Bitcoin continues to languish below its previous highs, despite all the institutional fanfare and worldwide chatter. Whether Schiff’s splendidly sardonic remarks will sway public opinion remains a mystery—but one thing’s for sure: he’s not going quietly into that good night! 😏
Read More
- Lucky Offense Tier List & Reroll Guide
- Indonesian Horror Smash ‘Pabrik Gula’ Haunts Local Box Office With $7 Million Haul Ahead of U.S. Release
- Best Crosshair Codes for Fragpunk
- What’s the viral ‘Velocity’ trend on TikTok?
- Make Meth in Schedule 1: The Ultimate Guide
- Pirate Copy of Minecraft Movie Leaks Online
- Unlock Coca Seeds in Schedule 1: Your Path to Cocaine Production!
- SWORN Tier List – Best Weapons & Spells
- Unlock All Avinoleum Treasure Spots in Wuthering Waves!
- Ultimate Tales of Wind Radiant Rebirth Tier List
2025-04-12 11:56