Canadian billionaire criticizes MicroStrategy's 1M BTC goal

Canadian billionaire and gold advocate Frank Giustra has publicly criticized MicroStrategy's (MSTR) goal of accumulating one million Bitcoin. MicroStrategy currently holds approximately 818,000 BTC and, at its current pace, is projected to reach the one million BTC mark—equivalent to 5% of the total supply—this August. Writing on X (formerly Twitter), Giustra dismissed the symbolic significance of the target, questioning what it truly means for Chairman Michael Saylor to hold 5%. He specifically pointed to Saylor's high price target of $49 million for Bitcoin, describing it as a tactic to stimulate human greed and FOMO to maintain buying pressure. Giustra suggested that MicroStrategy's strategy relies solely on an overheated market.