Bulls at Odds! As the U.S. government claims ownership of 69,370 Bitcoin valued at $4.38 billion seized from the Silk Road dark web marketplace, there is growing speculation about a potential sale. If the government opts to sell, it could mirror the German government’s Bitcoin sale in July, raising concerns of a new bearish wave among investors.
In a surprising twist, Peter Schiff, a well-known Bitcoin critic, offered an unexpected suggestion. He proposed that Michael Saylor, the founder of MicroStrategy, should consider purchasing the Bitcoin if the U.S. government sells it.
Schiff went as far as to suggest that Saylor should take on $4.3 billion in debt to buy the BTC.
“It looks like the U.S. government is preparing to sell about $4.3 billion worth of Bitcoin at current market prices. Occasionally, the government does something smart. I think Michael Saylor should have MicroStrategy take out a $4.3 billion loan and buy them all. Who’s with me?”
Will the U.S. Government Sell Bitcoin Before the Election?
Schiff also questioned Donald Trump’s “never sell your Bitcoin” strategy, implying that the U.S. government may continue selling BTC until the next election. Schiff argued that Trump’s promise not to sell Bitcoin could become irrelevant by the time he takes office, assuming he wins.
“He never promised to buy Bitcoin, just to not sell the government’s existing Bitcoin. But by the time he takes office, the government may have already sold it, so he wouldn’t be breaking any promises.”
As of now, Michael Saylor has not responded to Peter Schiff’s comments.
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