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Peter Schiff Signals Strategy’s 840K Bitcoin Holdings Could Bring ‘Much Greater’ Losses
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Peter Schiff warned that Strategy’s new bitcoin sale policy could result in much larger realized losses after the company sold 3,588 bitcoin for about $216 million under its BTC Monetization Program.
Key facts
- Strategy Inc. (Nasdaq: MSTR) sold 3,588 bitcoin, raising about $216.3 million, the company announced on July 6
- Given MSTR’s average cost, that’s a realized loss of about $15K per bitcoin, or about $54 million
- Peter Schiff warned that Strategy’s new bitcoin sale policy could result in much larger realized losses after the company sold 3,588 bitcoin for about $216 million under its BTC Monetization Program
- After the sale, Strategy held 843,775 BTC with an aggregate purchase price of about $59.08 billion
Summary
Peter Schiff said the bitcoin sale marks a risky shift in Strategy’s model that could increase realized losses if more BTC is sold. Strategy sold 3,588 bitcoin for about $216 million, raising concerns about further selling pressure. Strategy Inc. (Nasdaq: MSTR) sold 3,588 bitcoin, raising about $216.3 million, the company announced on July 6. After the sale, Strategy held 843,775 BTC with an aggregate purchase price of about $59.08 billion.