As per claims, the United States government is planning to sell the Bitcoins seized from Silk Road, an identified dark web marketplace.
In an X post dated October 09, 2024, Peter Schiff, a known economist, wrote that mentioning that the U.S government is set to sell 69,370 Bitcoins worth about $4.6 billion; he thinks that MicroStrategy should acquire the chunk from the government.
The post reads, “ Every once in a while, the government does something smart. I think Michael Saylor should have MicroStrategy borrow another $4.3 billion and buy it.”
On Oct. 7, the U.S. Supreme Court declined to hear Battle Born Investments’ case over the ownership of 69,370 BTC seized from SilkRoad, giving the government full control over the seized funds. Including the seized BTCs from the marketplace, the U.S. government solely holds Bitcoins worth roughly $13 billion.
Peter questioned the trading price of MicroStrategy in an X post dated October 08, 2024, What’s going on with $MSTR? It spiked 18% over the past three days, with Bitcoin only up 1%.
He always remains in the limelight for slamming the biggest Bitcoin-holding publicly traded company, MicroStrategy.
Peter, a Crypto Critic!
Peter has been actively criticizing BTC, sometimes comparing it with gold or some other real-world assets.
In an interview with Yahoo Finance in November 2023, he said Bitcoin lacks real value compared to gold as its value is more derived from its properties and uniqueness. He argued that gold is one of the precious commodities/metals available to us; he also compared BTC with other tokens and coins in the crypto market.
While answering the question on blockchain technology, he said, ” We don’t have to ignore blockchain technology; we can use it to improve the divisibility and the portability of gold and make it an even better monetary instrument than it was in the past.”
MicroStrategy Inc (MSTR) Stock Price
As per charts available on TradingView, a major buying momentum has been fueled in the MSTR stock; the change was seen after its stock price saw a decline of 3.11% on the first day of October 2024.
The bullish performance helped MSTR stock price to grow roughly 19% in the past five sessions, and when writing, it was trading at $192.20 above 20, 50, 100, and 200 days EMA with a trading volume of 20.958 million.
In the past 52 weeks, MSTR stock recorded the highest trading price of $199.90 and the lowest traded at $30.31. The YTD MSTR price movement has become one of the most discussed topics, surging 180.50% in this frame. The growth in stock price is regarded as the sole success of MicroStrategy’s Bitcoin holdings.
Analysts predict if the bulls’ dominance remains in the coming days, MSTR stock will soon acquire the nearest resistance of $219.87. It is worth noting that the company’s market capitalization in 2022 was $1.63 billion, which grew 546.3%, reaching $10.55 billion, and after another addition of 268%, it was $38.49 billion until publishing.
