In a recent CNBC interview, Michael Saylor forecasted a Bitcoin price of $13 million, but Peter Schiff dismissed this prediction as “nonsense.” Schiff criticized Bitcoin and promoted gold as a superior investment.
Michael Saylor appeared on CNBC’s “Squawk Box,” where he reaffirmed his optimistic Bitcoin forecast, despite Bitcoin’s recent price fluctuations.
He reflected on past challenges, such as Silvergate Bank’s failure, which he claimed ultimately benefited MicroStrategy. Saylor emphasized Bitcoin’s transformative potential and predicted it could reach $13 million in 21 years.
Peter Schiff countered Saylor’s prediction, labeling it as unfounded and criticizing CNBC for not challenging Saylor’s views.
Schiff pointed out that MicroStrategy’s stock has declined significantly and questioned the long-term returns Saylor touted.
He also argued that gold, unlike Bitcoin, has intrinsic value, despite some skepticism from other commentators about gold’s relevance. Schiff suggested diversifying investments between gold and Bitcoin to mitigate risks.
Bitcoin giant Strategy has added another 4,980 BTC to its reserves in a purchase worth approximately $531.9 million, according to Executive Chairman Michael Saylor.
According to renowned market veteran Peter Brandt, trading isn’t the path to prosperity for the vast majority of people.
Charles Edwards, founder and CEO of Capriole Investments, has offered a fresh perspective on Bitcoin’s stalled price movement near the $100,000 mark, despite growing institutional enthusiasm.
Metaplanet has expanded its Bitcoin treasury with a new acquisition of 1,005 BTC valued at approximately $108.1 million, further cementing its status as one of the largest corporate holders of the digital asset.