Ah, mesdames et messieurs! Gather ’round, for the tale of Michael Saylor’s Bitcoin escapades is once again upon us! 🎭 A software producer, in a fit of financial bravado, has purchased a staggering 3,081 BTC for the princely sum of $357 million, averaging a price that would make even the most audacious merchant blush: $115,829! Now, this company boasts a treasure trove of 632,457 BTC, worth over $71 billion, with an average entry price that would make a king weep: $73,527. 💰
By the numbers, one might say this strategy is as sound as a well-tuned lute, still up more than 52% despite the market’s whimsical dance of ups and downs. 🎶
But lo! Before the grand announcement, our dear Saylor proclaimed that Bitcoin was on sale! A delightful jest, until the ever-skeptical Peter Schiff wades into the fray, armed with his sharp tongue and sharper wit. 🗡️
“Buy Bitcoin?” he scoffs, “A splendid idea, indeed! But mark my words, the true opportunity shall not arise until companies like Strategy find themselves in dire straits, like a shipwrecked sailor clinging to a floating barrel!” 🛳️ For him, the only moment worth seizing would be when these Bitcoin-laden companies are forced to sell their precious holdings in a frenzy akin to a fire sale at a bankrupt merchant’s stall.
“Says the man who leveraged up to go all-in on Bitcoin. If you truly wish to buy Bitcoin, wait until the Strategy going out of business sale.”
– Peter Schiff (@PeterSchiff) August 24, 2025
Ah, but this critique aligns with a growing concern, like a shadow lurking in the corner, regarding how these companies manage their “Bitcoin treasuries.” 🏰
Risks of Bitcoin Treasury Companies
Picture this: a model that involves issuing stock at premiums, pouring the proceeds into Bitcoin, and watching valuations rise in a delightful feedback loop! It’s a merry dance while the premium lasts, but once it fades, oh là là! Capital inflows cease, and the whole setup begins to resemble a margin trade with nary a room for error. 🎭
For the moment, Strategy remains the grand name in this theatrical production. With a market cap of $99 billion and an enterprise value nearing $113 billion, their Bitcoin holdings account for nearly three-quarters of that total! A veritable feast for the eyes! 🍽️
Yet, dear reader, Schiff’s point lingers like a ghost at a banquet: the best time to buy Bitcoin may not be when Saylor sings its praises, but rather when the very system that supports these corporate treasuries built on BTC finally crumbles like a poorly constructed stage! 🎭
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2025-08-25 20:03