{"id":71753,"date":"2022-12-21T13:16:05","date_gmt":"2022-12-21T11:16:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=71753"},"modified":"2025-09-08T10:54:48","modified_gmt":"2025-09-08T07:54:48","slug":"peter-schiff-says-microstrategys-bitcoin-investment-was-a-bid-to-avoid-liquidation","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/peter-schiff-says-microstrategys-bitcoin-investment-was-a-bid-to-avoid-liquidation\/","title":{"rendered":"Peter Schiff says MicroStrategy&#8217;s Bitcoin investment was a bid to avoid liquidation"},"content":{"rendered":"<p>MicroStrategy bought its first cryptocurrency to avoid liquidation, said Peter Schiff, president of Euro Pacific Capital.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">For the first time I heard <a href=\"https:\/\/twitter.com\/saylor?ref_src=twsrc%5Etfw\">@saylor<\/a> admit that adding <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> to the <a href=\"https:\/\/twitter.com\/MicroStrategy?ref_src=twsrc%5Etfw\">@MicroStrategy<\/a> balance sheet was basically a Hail Mary to avoid liquidating the company. If the only thing <a href=\"https:\/\/twitter.com\/search?q=%24MSTR&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$MSTR<\/a> has going for it is a leveraged speculative position in Bitcoin, than it has nothing going for it.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1605194079750574081?ref_src=twsrc%5Etfw\">December 20, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;For the first time I heard that [former MicroStrategy head Michael] Saylor admitted that adding Bitcoin to the balance sheet was, essentially, an attempt to avoid liquidating the company. If the only thing MicroStrategy is capable of is a leveraged speculative position in Bitcoin, then it has nothing going for it,&#8221; Schiff wrote.<\/p>\n<\/blockquote>\n<p>He did not specify where exactly Saylor&#8217;s words were uttered; however, one Twitter user said Schiff&#8217;s interpretation was incorrect.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">That is not what he said. You distort like those who said Saylor will sell when he said &#8220;I can even sell my bitcoins on a Saturday night&#8221;. He meant it works 24H.<br \/>Here he meant they couldn&#8217;t find anything else which protects the company assets.<\/p>\n<p>\u2014 BullsEye (@GhostofHayek) <a href=\"https:\/\/twitter.com\/GhostofHayek\/status\/1605459339803856896?ref_src=twsrc%5Etfw\">December 21, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;That is not what he said. &#8230; Here he meant that they [MicroStrategy] couldn&#8217;t find anything else that would protect the company&#8217;s assets,&#8221; he clarified.<\/p>\n<\/blockquote>\n<p>Saylor has repeatedly described Bitcoin as &#8220;the most reliable thing in a volatile world&#8221; and &#8220;a global reserve asset.&#8221; In August he <a href=\"https:\/\/forklog.com\/en\/news\/michael-saylor-to-step-down-as-microstrategy-ceo\">left<\/a> the post as CEO of MicroStrategy and stated that the purchase of the first cryptocurrency as a reserve asset <a href=\"https:\/\/forklog.com\/en\/news\/michael-saylor-says-microstrategy-was-right-to-invest-in-bitcoin\">was justified<\/a>.<\/p>\n<p>As of writing, the company <a href=\"https:\/\/bitcointreasuries.net\/\">owns<\/a> 130,000 BTC worth about $2.2 billion.<\/p>\n<p>Later Schiff also weighed in on Bitcoin&#8217;s prospects. In his view, prices will not return to their previous highs, even when crisis-era financial assets recover.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The fact that <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> fell along with financial assets doesn&#8217;t mean that it will rise once those markets turn. Bitcoin isn&#8217;t a financial asset. It&#8217;s a collectable digital token. The Bitcoin bubble popped and collectors will be selling no matter what happens to financial assets.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1604834792306102273?ref_src=twsrc%5Etfw\">December 19, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Bitcoin is not a financial asset. It&#8217;s a collectible digital token. The Bitcoin bubble has burst, and collectors will sell whatever happens to financial assets,&#8221; wrote the gold advocate.<\/p>\n<\/blockquote>\n<p>&#8220;More like a fool&#8217;s asset. So as long as people are foolish enough to buy <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> the price will go up. Unfortunately for Bitcoin holders though there are plenty of fools in the world, I don&#8217;t think there are many left willing to buy Bitcoin who don&#8217;t already own it.&#8221;<\/p>\n<p> \u2014 Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1604836233900969986?ref_src=twsrc%5Etfw\">December 19, 2022<\/a><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00ab[\u2026] \u041a \u0441\u043e\u0436\u0430\u043b\u0435\u043d\u0438\u044e \u0434\u043b\u044f \u0445\u043e\u0434\u043b\u0435\u0440\u043e\u0432, \u0445\u043e\u0442\u044f \u0432 \u043c\u0438\u0440\u0435 \u0434\u043e\u0441\u0442\u0430\u0442\u043e\u0447\u043d\u043e \u0434\u0443\u0440\u0430\u043a\u043e\u0432, \u044f \u043d\u0435 \u0434\u0443\u043c\u0430\u044e, \u0447\u0442\u043e \u043e\u0441\u0442\u0430\u043b\u043e\u0441\u044c \u043c\u043d\u043e\u0433\u043e \u0436\u0435\u043b\u0430\u044e\u0449\u0438\u0445 \u043a\u0443\u043f\u0438\u0442\u044c \u0431\u0438\u0442\u043a\u043e\u0438\u043d [\u0441\u0440\u0435\u0434\u0438 \u0442\u0435\u0445,] \u043a\u0442\u043e \u0438\u043c \u043d\u0435 \u0432\u043b\u0430\u0434\u0435\u0435\u0442\u00bb, \u2014 \u0434\u043e\u0431\u0430\u0432\u0438\u043b \u043f\u0440\u0435\u0437\u0438\u0434\u0435\u043d\u0442 Euro Pacific Capital.<\/p>\n<\/blockquote>\n<p>Earlier in December Schiff predicted that digital gold <a href=\"https:\/\/forklog.com\/en\/news\/peter-schiff-predicted-bitcoin-would-fall-below-5000\">would fall below $5,000<\/a> and urged investors not to make the mistake of thinking the first cryptocurrency would form a floor at around $17,000.<\/p>\n<p>In October, the gold advocate <a href=\"https:\/\/forklog.com\/en\/news\/peter-schiff-accuses-michael-saylor-of-bitcoin-pumping\">criticised<\/a> Saylor and CNBC for advertising Bitcoin, accusing them of pumping the asset.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MicroStrategy bought its first cryptocurrency to avoid liquidation, said Peter Schiff, president of Euro Pacific Capital.<\/p>\n","protected":false},"author":1,"featured_media":71754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1208,1138,1298],"class_list":["post-71753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-michael-saylor","tag-opinions","tag-peter-schiff"],"aioseo_notices":[],"amp_enabled":true,"views":"407","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=71753"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71753\/revisions"}],"predecessor-version":[{"id":71755,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71753\/revisions\/71755"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/71754"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=71753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=71753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=71753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}