As per 36 Crypto, Peter Schiff has warned that Bitcoin could fall to $75,000, potentially wiping out the paper gains of Michael Saylor’s firm, Strategy. Strategy, which holds over 640,000 Bitcoin, has an average cost basis of $73,981, and any price drop below that level could result in a temporary loss. Schiff also highlighted that Strategy’s market premium over Bitcoin has narrowed to 1.44, raising concerns about potential dilution from share sales. He suggested that Saylor may eventually need to sell Bitcoin to buy back shares, which could trigger a broader market sell-off.
Peter Schiff Warns Bitcoin Could Drop to $75,000, Threatening Strategy's Holdings
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