Schiff Warns Saylor May Sell Bitcoin to Prop Up STRC Below $95
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Strategy has already sold almost 7,000 Bitcoins since the beginning of July. An expert explains why investors may now have even worse to fear. Source: BTC-ECHO
Peter Schiff warned that Strategy co-founder Michael Saylor might be forced to sell more Bitcoin and MSTR shares while the company seeks to back up its preferred shares STRC. Schiff argued in X that recent sales have not led STRC back to its $100 target, while the value continues to be quoted below $95. Strategy has recently used proceeds from Bitcoin sales and ordinary shares to strengthen its liquidity and repurchase discounted STRC shares. Th…
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Coin EditionSchiff Warns Saylor May Sell Bitcoin to Prop Up STRC Below $95
Peter Schiff warned that Michael Saylor may need to sell more Bitcoin and Strategy shares if the company wants to push its STRC preferred stock back toward its $100 target. STRC has continued trading below $95 despite Strategy using asset-sale proceeds to buy back shares. Despite selling Bitcoin...
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