Economist Peter Schiff dropped a pump in the crypto community on X.
According to him, Michael Saylor made a profit of 47% with Bitcoin for MicroStrategy. Sounds good? Hold on.
If Saylor had invested the same amount of money in gold during the same period, the return would have been around 30%. The difference? Only 17%.
But here comes the golden point (literally): liquidity is completely different.
The size problem
Sell $61.5 billion in gold? Easy, the market absorbs it without blinking.
Selling $69.5 billion in Bitcoin? Then the story changes. According to Schiff, an operation of this size would cause a devastating domino effect in the crypto community — cascading liquidations, widespread panic selling, and that nice accounting profit turns red quickly.
The summary of the opera: The numbers look amazing on paper, but the reality of liquidity can turn profit into loss in a matter of minutes.
It's worth reflecting: how much of this profit is real and how much is an illusion?
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Gold vs Bitcoin: Peter Schiff questions the reality of Michael Saylor's profits
Economist Peter Schiff dropped a pump in the crypto community on X.
According to him, Michael Saylor made a profit of 47% with Bitcoin for MicroStrategy. Sounds good? Hold on.
If Saylor had invested the same amount of money in gold during the same period, the return would have been around 30%. The difference? Only 17%.
But here comes the golden point (literally): liquidity is completely different.
The size problem
Sell $61.5 billion in gold? Easy, the market absorbs it without blinking.
Selling $69.5 billion in Bitcoin? Then the story changes. According to Schiff, an operation of this size would cause a devastating domino effect in the crypto community — cascading liquidations, widespread panic selling, and that nice accounting profit turns red quickly.
The summary of the opera: The numbers look amazing on paper, but the reality of liquidity can turn profit into loss in a matter of minutes.
It's worth reflecting: how much of this profit is real and how much is an illusion?