比特币策略 - 528BTC

Expand Peter Schiff says Strategy's losses on Bitcoin over the next five years will far exceed expectations. Economist Peter Schiff has again questioned Bitcoin investment theory after Strategy disclosed a new purchase shortly before the market crash. The timing of this acquisition has reignited the debate about whether actively accumulating Bitcoin remains wise amid increased market volatility. Earlier this week, Strategy, chaired by longtime Bitcoin advocate Michael Thaler, announced the purchase of 855 Bitcoins for approximately $75.3 million. The company stated that the average purchase price per Bitcoin was close to $88,000, and the transaction was funded by the issuance of common stock. While smaller than many of Strategy's previous acquisitions, the timing of this purchase has still attracted attention. In the days following the announcement, the price of Bitcoin fell below $80,000, hitting a new low since April 2025. Selling pressure intensified this week, with the price of Bitcoin dropping to approximately $72,945, well below Strategy's recent acquisition price. Despite the price drop, Strategy's overall Bitcoin exposure remains substantial. The company currently holds over 713,000 Bitcoins at a total cost of approximately $54.26 billion. According to company data, the average purchase price of its holdings is approximately $76,000 per Bitcoin. Against this backdrop, Peter Schiff has again criticized Strategy's Bitcoin strategy. Posting on the social media platform X, he pointed out that after years of accumulation, the company's current Bitcoin holdings are only slightly above the break-even point, offering little buffer against sharp price fluctuations. Based on this, Schiff also questioned the decision to buy before the price drop, noting that Bitcoin's price briefly fell below $75,000 and has remained significantly below Strategy's latest purchase price. He believes that waiting for a lower price might have mitigated downside risk. Schiff has long been critical of cryptocurrencies. He reiterated his stance that Bitcoin remains a speculative asset with uncertain fundamentals. He warned that companies holding large and concentrated amounts of cryptocurrency are particularly vulnerable to sudden and unpredictable market volatility. The exchange also referenced Michael Thaler's previous comments on long-term asset performance. In a recent article, Thaler listed Bitcoin, Strategy& stock, and Nvidia stock as among the best-performing assets of the past decade. Schiff countered this, arguing that Strategy&'s Bitcoin strategy yielded drastically different results. Schiff pointed out that while Strategy& has invested over $54 billion in Bitcoin over the past five years, that position is currently down about 3%. He refuted the claim that Bitcoin is the best-performing asset globally and warned that the downturn may have only just begun.