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An unexpected social media battle broke out between MicroStrategy CEO Michael Saylor and financial expert Peter Schiff today. The reason for the dispute was Saylor's statement mentioning Satoshi Nakamoto, the creator of Bitcoin.
Thus, the head of MicroStrategy, a well-known Bitcoin supporter, boldly proclaimed that in time, everything before Satoshi will be viewed as nonsense. Schiff, known for his skepticism toward Bitcoin, echoed quite the opposite sentiment.
In time Satoshi will be viewed as BS.
— Peter Schiff (@PeterSchiff) April 4, 2024
Michael Saylor is yet to respond to the hit by a vocal Bitcoin hater.
Profit and loss
This latest altercation adds fuel to an ongoing dispute between the two prominent figures. Just last month, Schiff criticized Saylor's decision to purchase an additional 9,245 BTC, cautioning of potential losses for MicroStrategy. Schiff warned of scenarios where Bitcoin's price could plummet to $20,000 or even $10,000, leaving the company with billions in losses.
While the crypto community and financial circles can see two polarized opinions about Satoshi Nakamoto and Bitcoin, the price of the main cryptocurrency is showing growth in today's crypto market trading, which is a continuation of yesterday, which also closed on the plus side.
As of the beginning of the week, the price of Bitcoin, however, is down 7%, quoted at $66,300. To clarify, the average MicroStrategy BTC purchase price is approximately $33,700, which means that Michael Saylor's company has a 96.73% profit on its cryptocurrency position.