US global economist suggests Michael Saylor sell MicroStrategy’s $12.12 Billion Bitcoin holdings

Peter Schiff suggested Michael Saylor sell his company’s Bitcoin holdings, instead of enjoying the unrealized profit.

Peter Schiff is a popular Bitcoin critic, and he never misses a chance to criticize Bitcoin investors and Bitcoin technology. Due to his negative comments about Bitcoin, he usually faces huge criticism from the Bitcoin community, but he still never stops speaking against the Bitcoin community.

On 7 Sep 2024, when the trade price of Bitcoin crashed by 4.5% and hit $52,500, Michael Saylor, the founder & former CEO of Bitcoin bull firm MicroStrategy, advised people not to sell Bitcoin.

In response, Bitcoin critic Peter Schiff suggested Saylor sell Bitcoin to realize actual profit from the investment, instead of focusing on paper-based profits (unrealized profit). Schiff advised Saylor to sell Bitcoin before it collapses to a very low level.

In another argument, Schiff claimed that he will become wealthier than Saylor in the long term because he holds gold, not Bitcoin.

Bitcoin Price

As we know, in the late evening of 6 Sep, the US authority announced unemployment rate data, which was not as favorable as expected, further creating a very bearish sentiment for the volatile market.

Under high bearish sentiment, the trade price of Bitcoin crashed to the $52.3k level. The current trade price of Bitcoin is $53,845. Some experts believe that this is the bottom and no more correction will be observed for now.

Read also: Despite Correction Below $54k level, 5 Major Bullish Sentiments Fueling Bitcoin Toward $70k Level