The translation of the heading to English is: "Government on Bitcoin Selling Spree: Peter Schiff Mocks MicroStrategy.

  • Peter Schiff criticizes MicroStrategy and their Bitcoin strategy again.
  • The US government plans to sell seized Bitcoin worth 69,370 BTC.

Eulerpool News·

The decision by the U.S. government to sell Bitcoin valued at 69,370 BTC, which was seized from the dark web marketplace Silk Road, has caused some stir. The decision follows the Supreme Court's ruling, which recently dismissed a case challenging the government's rights to the seized funds, thereby paving the way for future sales efforts. At the center of the discussion is Peter Schiff, a well-known critic of MicroStrategy's Bitcoin strategy, who vocally commented on X about the sale action. In a sarcastic tone, Schiff suggested that MicroStrategy founder Michael Saylor should take out another loan of $4.3 billion to purchase the Bitcoin holdings the government wants to offload. Schiff's comment is particularly interesting because he had previously criticized Saylor and his strategy of incorporating Bitcoin into corporate balance sheets, labeling it a risky gamble at the shareholders' expense. Nonetheless, MicroStrategy's 'Bitcoin strategy' has steadily increased the company's stock since August 2020, with a spectacular rise of 1208%, while the Bitcoin price has 'only' increased by 445%.
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