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Michael Saylor has continued to increase his Bitcoin holdings amid prolonged market volatility, drawing renewed reactions from the crypto community and from long-time Bitcoin critic Peter Schiff. On Monday, March 2, Schiff posted a sarcastic message responding to Saylor’s latest purchase of 3,015 BTC.
Strategy’s new acquisition was made at an average price of about $67,700 per BTC. Following the purchase, the firm’s total Bitcoin holdings rose to 720,737 BTC, valued at approximately $54.77 billion. Strategy’s average cost basis is reported at $75,985 per Bitcoin.
Schiff did not frame the move as a win for Bitcoin. Instead, he mocked Saylor for bringing Strategy’s average purchase price back below $76,000, characterizing the ongoing buying during a downturn as averaging down a losing trade. Schiff argued that Strategy’s unrealized losses continue to grow despite Saylor’s continued confidence and purchases.
Schiff also reiterated his view that gold has outperformed Bitcoin, stating that gold is now trading above $5,400. He suggested that Saylor could have directed his “daring trading habit” toward gold instead.
Despite the criticism, Saylor remains convinced that Bitcoin is headed for a larger price move, with a target of above $200,000 in the near future.
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