Peter Schiff Says MicroStrategy Lost Its Bitcoin-Buying Power
Peter Schiff says MicroStrategy has pulled its Stretch (STRC) preferred stock back toward its $100 par value. However, he argues the company has lost the issuance channel that funded its Bitcoin purchases. Even so, Strategy has kept adding Bitcoin, funding its latest purchase with proceeds from common stock sales. Schiff Credits Buybacks and a Bitcoin The post Peter Schiff Says MicroStrategy Lost Its Bitcoin-Buying Power appeared first on BeInCrypto.
Key Takeaways
- Peter Schiff says MicroStrategy has pulled its Stretch (STRC) preferred stock back toward its $100 par value.
- However, he argues the company has lost the issuance channel that funded its Bitcoin purchases.
- Even so, Strategy has kept adding Bitcoin, funding its latest purchase with proceeds from common stock sales.
Summary generated by IndiCrypto from BeInCrypto. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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