Schiff Talk Say MicroStrategy Bitcoin Strategy Na 'Fraud'

Gold advocate Peter Schiff don publicly challenge Michael Saylor to debate for Binance Blockchain Week for Dubai. E call MicroStrategy Bitcoin plan na "scam" and predict say e go enter "death spiral." Schiff talk say the company Q3 net income wey reach $2.8 billion and $8.42 EPS dey depend on unrealized gain from 640,808 BTC wey dem buy for average cost of $74,032 per coin. E warn say the high-yield preferred shares dem release to fund this buy fit never give the promised returns. Dis one fit cause big sell-off, block new debt issuance and make the company bankrupt. This kain attack happen as Bitcoin drop under $99,000 and MicroStrategy stock drop pass 50% since July. The company market NAV ratio drop below 1 for November, and only recover small to 1.21, wey still far below the 2.0 threshold wey investors wey dey focus for treasury like. Some analysts talk say MicroStrategy Bitcoin plan dey give leveraged public exposure to BTC, but dem warn say e get risk wey relate to aggressive accounting and investor sentiment. Neither Michael Saylor nor MicroStrategy don confirm if dem go join the debate.