Schiff Calls MSTR Death Spiral, While Saylor Rides Bulls, MSTR Hits $137
Peter Schiff renewed his "death spiral" warning on Strategy (MSTR), even as the stock jumped to $137.40 during a broader Bitcoin (BTC) rally. Michael Saylor answered with an AI-generated video of himself riding a bull in Spain.
Strategy's stock has surged since early August, echoing a rebound in Bitcoin that lifted the cryptocurrency back above $80,000 this week. Schiff attributes Thursday's jump largely to short sellers closing positions rather than genuine buying conviction.
Schiff Won't Budge on His Bear Case
Schiff, a longtime Bitcoin critic, has spent months arguing that Strategy's preferred stock dividend obligations leave the company exposed if Bitcoin turns lower again. He linked Thursday's rally to a short squeeze rather than fresh conviction behind the stock.
Not sure what's behind today's sharp $MSTR rally, though I suspect short-covering has a lot to do with it. Nonetheless, I stand by my "death spiral" thesis, even if Strategy's life expectancy has been extended a bit by the temporary Bitcoin rally.
… Continue reading the full article at the original source below.
