Peter Schiff: MicroStrategy Stock (MSTR) Not a Bargain Despite Huge Drop From ATH Price
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Even though the price of shares of business intelligence software company MicroStrategy Inc. (Nasdaq: MSTR) has fallen over 76% from its 52-week high, gold bug Peter Schiff does not consider this stock to be a bargain. It is worth remembering that on 11 August 2020, MicroStrategy announced via a press release that it had “purchased 21,454 bitcoins at an aggregate purchase price of $250 million” to use as a “primary treasury reserve asset.” Saylor said at the time: “Our decision to invest in Bitcoin at this time was driven in part by a confluence of macro factors affecting the economic and business landscape
Michael Saylor’s MicroStrategy is currently in the limelight, as Gold advocate and Bitcoin critic Peter Schiff spells out the real intentions behind the tech company’s large BTC accumulation over time. Peter Schiff Unveils Michael Saylor’s Intentions In Bitcoin Buys Peter Schiff disclosed the information about the Tysons-based tech firm on…
On Sept. 16, MicroStrategy founder Michael Saylor announced that the firm was planning its third debt offering this year, aiming to raise $700 million by issuing convertible senior notes. The figure is the aggregate principal amount, and there is an option for an additional $105 million in notes that mature…