Peter Schiff Predicts 'Brutal' Bear Market For Bitcoin Treasury Companies, Labels Michael Saylor's Business Strategy 'Harebrained'
Economist Peter Schiff warned Thursday of a severe bear market for Michael Saylor-led Strategy Inc. (NASDAQ: MSTR) and companies mimicking its Bitcoin (CRYPTO: BTC) treasury play. Schiff Questions Saylor’s ‘Strategy’ In an X post, Schiff questioned the viability of companies with large Bitcoin reserves. “While so many companies have been busy copying Saylor’s harebrained business strategy, few have noticed that MSTR is down 45% from its Nov. 2024 high,” Schiff said. He predicted a “brutal” bear market ...