Peter Schiff

With $STRC investor now down 24% this forecast has already come true. $MSTR will need to sell Bitcoin to settle these claims. https://t.co/rOIguQNLdB

$MSTR continues to melt down. The share price just fell below $85.50. It's likely that the stock will soon trade at a massive 40% discount to its Bitcoin per share. The best way to create shareholder value would be to sell Bitcoin to buy back shares until the discount is closed.

Since its peak in Nov. 2021, Bitcoin is now down 60% priced in gold. That's a spectacular decline, especially given that gold itself is down 28% from its own record high. Over nearly five years, despite all Wall Street's hype that Bitcoin is better than gold, gold outshone it.

@OdoggBrox Yes, but to buy them back MSTR needs to sell BTC at a loss too. Saylor won't do that.

Given how much airtime @CNBC gave @Saylor to shill his $MSTR house of cards, they are barely devoting any airtime to its current collapse. Plus, they are barely covering the deflating Bitcoin bubble, despite having devoted nearly non-stop coverage when they helped inflate it.

As I warned, MSTR’s death spiral has pricked the Bitcoin bubble. $MSTR fell another 8% this morning, down 84% from its high. $STRC fell another 7%, bringing the total decline to 25% and raising the current yield to 15.3%, sending Bitcoin tumbling to $58K, down 54% from its high.

https://t.co/DUzZP8aJUb

Set a reminder for my upcoming Space! https://t.co/DUzZP8aJUb

Trump is asking Congress to approve $87.6B in new spending, mainly for the Iran War. But since he isn't also asking Congress to cut spending elsewhere or raise taxes to pay for it, he's asking the Fed to create more inflation, so consumers pick up the tab by paying higher prices!

Bitcoin didn't rise with gold, but it sure is falling with it. Many expected a gold selloff to be a catalyst to send money back into Bitcoin. While the drops are similar, the dynamics are different. Gold's selloff is a buying opportunity. Bitcoin's selloff is a bubble deflating.

@rayq_ai @CNBCFastMoney I always open to reexamining my views. But I don't expect Strategy to survive, regardless of what ultimatley happens to Bitcoin.

@llkratom @CNBCFastMoney Doubt that.

@Nostre_damus @CNBCFastMoney Why, I apologized the same way made the original criticism. Besides, CNBC doesn't allow me on anymore. So even if I wanted to do that, I can't.

I owe the @CNBCFastMoney crew an apology. They got this call right and I got it wrong. Since this post, $GDX is down 23% and $GDXJ is down 26%. But I'll hold off on the congratulations until they buy the gold miners back while prices are still lower than when they sold.

@RELLIKREN Actually I fogot it becomes law in 10 days anyway without his signature. So I take back my support.

@DanMicovic I forgot about that. I just assumed not signing it was a pocket veto. But that only works if Congress is not in session. If that's the case, the President's gesture is empty and I withdraw my support. He should veto the bill outright.

@atgintl @saylor I'll do one tonight.

@ErikSchapel @saylor Apples to oranges. Plus the price of that fund doesn't show the total return. The fund pays large distributions every year that reduces the price.

@sinanziric @saylor They likely turned a blind eye due to political pressure from the Trump administration.

I support Trump's refusal to sign the Housing Bill unless Congress also passes the SAVE America Act. The Housing Bill is a bad bill. The SAVE America Act is a good bill. If the President makes the mistake of signing the bad bill, he might as well get a good one as a trade-off. I assumed not signing it was a pocket veto. But that only works if Congress is not in session. Since it will be, the President's gesture is an empty political stunt and I withdraw my support. He should veto the bill outright.

@JoeConsorti Even if some of that is true the lower price on STRC forces MSTR to raise the dividend if it wants to sell more STRC. Since it can't it either must sell MSTR at a huge discount, or BTC. That's the death spiral!

So far the low on $STRC is $80. That's a 20% drop in an investment @Saylor promoted as safe, with near-zero volatility. At that price, the current yield for new buyers is 14.4%. Clearly, investors don't believe the dividend is sustainable and expect it to be reduced or suspended.

It's true that I never bought into the Bitcoin narrative, but I always respected the views of those who disagreed with me and their right to express their opinions. But I drew a line with @Saylor defrauding investors with his $STRC Ponzi scheme and those who covered for him.

Saylor promoted $STRC to risk-averse retirees by assuring them that all the volatility had been stripped out. STRC is down over 5% today, more than 17% below what many retirees paid last month. Almost two years of dividends gone. @Saylor clearly made material misrepresentations.

Even if the Fed is serious about bringing inflation down to 2% with aggressive rate hikes and QT, once the stock market accepts that and crashes, the Fed will do a 180. A stock market crash, plus a real estate crash, threatens not only a recession but another financial crisis.

If precious metals traders are right about how aggressive the Fed will get to crush inflation, the stock market should be crashing. If stock traders are right that the Fed is more bark than bite when it comes to rate hikes, gold prices should be soaring. They both can't be right.

Gold traders are pricing in aggressive rate hikes, but stock investors appear to still be pricing in cuts. The latter may be correct, but not because rate cuts are appropriate, but because they will be a political necessity. Those cuts will be more bullish for gold than stocks.

Gold is below $4,050. A dip below $4K is likely, but not worth the wait. Silver is below $60. Traders are pricing in rate hikes that may never happen. But even if they do, it will be too little, too late to slow inflation, which will rise more than rates. That's bullish for gold. Gold just traded below $4,000. An even better buy. Silver is down to $58.60

If short sellers push $MSTR's price low enough, they can put @Saylor in a position where his best option would be to sell Bitcoin to buy back stock. That would reduce the discount, but it may not raise the share price, as Bitcoin will crash. That's the box Saylor put himself in.

Bitcoiners claim Bitcoin is cheap. Cheap relative to what? Maybe relative to its bubble high, but not relative to its historic lows. With no earnings, yield, book value, or productive use, Bitcoin has no valuation anchor. “Cheap” just means buyers hope a greater fool pays more.