Peter Schiff: MicroStrategy's plan to monetize BTC could trigger market collapse

Euro Pacific Capital CEO Peter Schiff has warned that a new Bitcoin monetization program announced by MicroStrategy (MSTR) could trigger a market collapse. On X, he stated that MicroStrategy has now become a Bitcoin seller, outlining three purposes for the sales: to raise up to $1.25 billion to bolster its U.S. dollar reserves, to pay preferred stock dividends and debt interest, and to fund $1 billion buybacks of both its preferred and common stock. Schiff argued that the program would cause Bitcoin's price to plummet, forcing MicroStrategy to sell even more of the cryptocurrency.