Peter Schiff Criticizes Bitcoin ETF Trade Limitations; Comments on MicroStrategy CEO's BTC Strategy

Renowned gold enthusiast Peter Schiff aired his skepticism about trading Bitcoin BTC/USD through exchange-traded funds (ETFs), citing specific concerns about trade limitations. Schiff's latest remarks directly address the operational hours of Bitcoin ETFs, noting that they only align with U.S. market trading schedules.

Peter Schiff's Take on Bitcoin ETFs

Schiff, a long-time critic of cryptocurrencies, particularly Bitcoin, utilized a recent post on social media to highlight what he perceives as a constraint for investors. He pointed out that the ability to trade Bitcoin ETFs is restricted to the hours when U.S. markets are open, potentially disadvantaging investors who seek to trade outside of these hours, given Bitcoin's nature of being traded around the clock on various platforms.

MicroStrategy's Bitcoin Acquisition Strategy Under Scrutiny

Alongside his comments on Bitcoin ETFs, Schiff took a jab at Michael Saylor, the CEO of MicroStrategy Incorporated MSTR. Saylor, known for his bullish stance on Bitcoin, has led his company to acquire substantial amounts of Bitcoin, financed in part by borrowing funds. Schiff insinuated that Saylor's actions were not purely investment-driven, implying that his 'true intention' may be to manipulate the market.

MicroStrategy has been making headlines for its aggressive Bitcoin investment strategy, underlining the company's belief in Bitcoin's potential as an asset. Despite fluctuations in the cryptocurrency market, MicroStrategy's commitment to Bitcoin positions the firm at the forefront of companies integrating cryptocurrency into their investment portfolios. Michael Saylor's firm is headquartered in Tysons Corner, Virginia, and continues to play a leading role in business analysis software and services.

Schiff, ETF, MicroStrategy