Michael Saylor, ever the intrepid explorer of financial chaos, has continued to double down on his Bitcoin accumulation despite the prolonged market volatility. His latest purchase – which involved 3,015 BTC – has triggered reactions from the crypto community, especially Bitcoin’s long-term critic, Peter Schiff. One might say it’s the financial equivalent of jumping into a black hole while wearing a party hat.
On Monday, March 2, Peter Schiff, ever the paragon of economic wisdom, issued a congratulatory message laced with the kind of sarcasm that could curdle milk. As usual, his reaction typically reignited the centuries-old rivalry between gold and Bitcoin, a debate as lively as a tea party in a hurricane.
Saylor tops Bitcoin treasury despite unrealized losses
Prior to Schiff’s reaction, Michael Saylor announced that the leading investment firm, Strategy, had acquired an additional 3,015 BTC for approximately $204.1 million. This, of course, is the same firm that once believed in the power of the “buy and hold” strategy, a philosophy that has proven as reliable as a clockwork toaster.
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The firm made the new purchase at an average price of about $67,700 per BTC, bringing its entire Bitcoin holdings to 720,737 BTC worth about $54.77 billion, with an average cost of $75,985 per Bitcoin. One might argue this is the financial equivalent of buying a lottery ticket with a 0.0001% chance of winning, but with more paperwork.
This purchase stirred reactions across the crypto community, with enthusiasts lauding Saylor for his commitment, which has ignited the confidence of smaller investors. Or, as some might call it, a cult of personality with a side of cryptocurrency.
Schiff, ever the voice of reason, did not express admiration for Saylor’s strong confidence in Bitcoin; rather, he mockingly congratulated Saylor for bringing Strategy’s average purchase price back below $76,000. A feat akin to convincing a penguin to wear a tuxedo and perform ballet.
Schiff recommends gold to Saylor
In his statement, Schiff describes Saylor’s consistent Bitcoin purchase amid the prolonged downturn as averaging down a losing trade, arguing that the firm’s unrealized losses continue to grow despite Saylor’s bold actions. It’s like trying to fix a broken spaceship by throwing more money at it, while the crew sings “Never Gonna Give You Up.”
On the other hand, Schiff restated that gold has continued to surge against Bitcoin, as it is now trading above $5,400. He recommended that the vocal Bitcoin advocate could have channeled his daring trading habit to gold. A suggestion as practical as telling a fish to climb a tree.
Amid the growing controversy on Bitcoin’s future price action, Saylor remains convinced that the asset is headed for a greater price surge above $200,000 in the near future. This prediction is as reliable as a weather forecast in a tornado, but hey, at least he’s consistent.
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2026-03-02 19:18