Gold proponent and renowned economist Peter Schiff has predicted that MicroStartegy’s MSTR stock could eventually crash. Such a development would be significant for Bitcoin, considering how much stake the software company and its co-founder, Michael Saylor, have in the BTC ecosystem.
Peter Schiff Predicts MSTR Crash
Schiff predicted in an X post that an MSTR price crash could eventually occur. This came following his statement that the stock has to be the most overvalued in the Morgan Stanley Capital International (MSCI) World Index. According to the Gold advocate, a “real bloodbath” will occur when MSTR finally crashes.
Indeed, an MSTR crash could cause some bloodbath for Bitcoin, as it would undoubtedly serve as a black swan event for the flagship crypto. This is based on MicroStrategy’s investment in the flagship crypto. The software company is currently the fifth-largest Bitcoin holder, with 252,220 BTC, only behind Satoshi Nakamoto, Binance, BlackRock, and Grayscale.
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