Latest news with #Strategy
Yahoo
2 hours ago
- Business
- Yahoo
Michael Saylor Says Bitcoin Is 'Engineered To Outperfom' And 'Going To Go Faster Than Gold:' Peter Schiff Says 'He Still Refuses To Debate...'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Strategy co-founder Michael Saylor took a dig at economist Peter Schiff on Thursday while highlighting Bitcoin's (CRYPTO: BTC) superiority over all assets, including gold. What Happened: Speaking at the Bitcoin 2025 conference, Saylor said that Bitcoin is 'engineered to outperform' all capital assets in the world. 'It's going to grow faster than the S&P, it's going to appreciate faster than gold. Sorry, Peter!' Saylor poked fun at Schiff, a long-time gold advocate. Trending: — no wallets, just price speculation and free paper trading to practice different strategies. Schiff was quick to react, taking satisfaction in the fact that Saylor recognized him as the 'world's leading' gold advocate. 'It's just too bad he still refuses to debate gold versus Bitcoin with me,' Schiff said. Why It Matters: The friendly banter comes after Eric Trump, executive vice president of The Trump Organization, praised Saylor's Bitcoin optimism and said that the cryptocurrency space is 'fortunate' to have him. Saylor, one of the most ardent supporters of Bitcoin, has put his money where his mouth is. His company Strategy is at the forefront of Bitcoin's corporate adoption, owning a BTC stockpile worth more than $61 billion as of this writing, according to Schiff, on the other hand, maintains that gold's proven track record makes it a more reliable investment. Interestingly, Schiff participated in the Bitcoin conference to represent an opposing view about the asset. Read Next: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase. A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase. Photo courtesy: Shutterstock Send To MSN: Send to MSN This article Michael Saylor Says Bitcoin Is 'Engineered To Outperfom' And 'Going To Go Faster Than Gold:' Peter Schiff Says 'He Still Refuses To Debate...' originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
6 hours ago
- Business
- CNBC
Saylor's bitcoin buying strategy is 'exploding' globally, but Wall Street is skeptical
LAS VEGAS — The bitcoin treasury play that lifted Strategy's market cap past $80 billion is now being mimicked by meme stock companies, media firms, and multinational conglomerates. But Wall Street isn't buying all the hype. This week, Trump Media announced plans to raise $2.5 billion to buy bitcoin, and GameStop revealed a $500 million allocation. Meanwhile, Tether, SoftBank, and Strike's Jack Mallers unveiled Twenty One, a bitcoin-native public company expected to launch with more than 42,000 bitcoin on its balance sheet, enough to make it the third-largest corporate holder of the asset globally. For now, the market doesn't see the next Strategy in any of them. Trump Media shares have dropped more than 20% since the announcement, while GameStop is down nearly 17%. Strategy, formerly known as MicroStrategy, has multiplied by 26 times since the end of 2022, amassing a bitcoin stake worth over $60 billion. "Maybe the market wanted them to buy more bitcoin," said Strategy Chairman Michael Saylor in an interview at Bitcoin 2025 in Las Vegas. "But these are short-term dynamics. Over the long term, bitcoin on the balance sheet has proven to be extraordinarily popular." Saylor called Trump Media's move "courageous, aggressive, and intelligent" — and said the flood of similar announcements marks a global shift in corporate finance. "Everywhere I go at this conference, someone says, you know, I'm working on a bitcoin treasury company in Hong Kong. I'm doing this thing in Korea. I've got this thing I'm working on in Abu Dhabi. We're going to do this in the Middle East, you know, we've got this in the U.K.," he said. "There's an explosion of interest right now." Saylor said bitcoin ambassadors are "planting the orange flag everywhere on earth." What began as a fringe financial maneuver is quickly becoming a geopolitical race. Under the Biden administration, corporate bitcoin adoption was often treated as a regulatory red flag. But under President Donald Trump, the tone has changed. In March, Trump signed an executive order establishing a U.S. Strategic Bitcoin Reserve, instructing federal agencies to treat bitcoin as a long-term store of value. The reserve will be funded entirely through bitcoin seized in criminal and civil forfeiture cases, according to White House Crypto and AI Czar David Sacks. The order also empowers the government to explore additional budget-neutral mechanisms for acquiring more bitcoin. For the first time, the federal government will conduct a full audit of its digital asset holdings, currently estimated at more than 200,000 bitcoin. The order explicitly prohibits the sale of any bitcoin from the reserve, cementing its role as a permanent sovereign asset. Vice President JD Vance this week became the first sitting vice president to address the bitcoin community directly, framing crypto as a hedge against inflation, censorship, and "unelected bureaucrats." And in a further move to boost bitcoin, the Department of Labor rolled back guidance that had discouraged bitcoin investments in retirement plans. "No force on Earth can stop an idea whose time has come," Saylor said. "Bitcoin is digital capital and maybe the most explosive idea of the era." Some corners of the corporate world are still resistant. Late last year, Microsoft shareholders rejected a proposal to use some of the software company's massive cash pile to follow Saylor's lead. In a video presentation supporting the effort, Saylor told investors that "Microsoft can't afford to miss the next technology wave." While Strategy has reaped the rewards of early adoption, Saylor suggested the market's cooler reaction to Trump Media and GameStop may stem more from structural financing dynamics than from skepticism toward bitcoin itself. He pointed to GameStop's initial announcement that it was considering a bitcoin strategy, which led to a 50% pop in the stock and tenfold increase in trading volume. The company quickly capitalized on the momentum with a $1.5 billion convertible bond raise — a move he described as "extraordinarily successful." Trump Media took a similar approach, raising capital through a large convertible bond offering. Saylor said those financing methods can create short-term downward pressure, but that over time investors will benefit. When it comes to Strategy, Saylor said there's no ceiling to his bitcoin accumulation plans. His company is already by far the largest corporate holder of the cryptocurrency. "We'll keep buying bitcoin," he told CNBC. "We expect the price of bitcoin will keep going up. We think it will get exponentially harder to buy bitcoin, but we will work exponentially more efficiently to buy bitcoin." For critics who worry that state and media actors embracing bitcoin will undermine its decentralized ideals, Saylor argues the opposite. "The network is very anti-fragile, and there's a balance of power here," he said. "The more actors that come into the ecosystem, the more diverse, the more distributed the protocol is, the more incorruptible it becomes, the more robust it becomes, and so that means the more trustworthy it becomes to larger economic actors who otherwise would be afraid to put all of their economic weight on the network."
CNBC
17 hours ago
- Business
- CNBC
Watch CNBC's full interview with Strategy's Michael Saylor from Bitcoin 2025
Michael Saylor, executive chairman of Strategy, joins CNBC's MacKenzie Sigalos at Bitcoin 2025 to discuss the rise of corporate bitcoin purchases, digital asset regulation and more.
Yahoo
18 hours ago
- Business
- Yahoo
Saylor has a shocking backup plan if Strategy stock crashes below $1
Saylor has a shocking backup plan if Strategy stock crashes below $1 originally appeared on TheStreet. At the Bitcoin conference in Las Vegas, Strategy's Executive Chairman, Michael Saylor, addressed concerns surrounding the company's market performance, specifically where there was speculation on what would happen if its multiple to net asset value (mNAV) dropped below 1 (which occurred in a prior bear cycle). Saylor drew a stark contrast between Strategy and the Grayscale Bitcoin Trust (GBTC), stating that while GBTC was a closed-end trust without any capital structure flexibility, Strategy operated as a fluid business. "For any company to fall below one mNAV, shareholders have lost faith in the management," he said, as per Coindesk reports. He explained that if the stock price of Strategy fell low enough, the company could sell some of its financial products, such as STRK and STRF, to raise money, and then use that money to buy its stock. This would improve the stock price and communicate to investors that the company is strong and in control. "To create value, you need option value. The more options, the greater the value," Saylor explained. Saylor emphasized Strategy's access to three capital markets from ATM, which he termed the foundation of the company. 'What makes our company a monster,' he concluded, 'is having multi-channel liquidity and operational flexibility.' Saylor's conclusion about Strategy's flexibility to navigate future volatility. Yesterday, on May 29, MicroStrategy shares remained stable, indicating that MicroStrategy's shareholders are confident in Bitcoin's long-term potential as a cryptocurrency, given that MicroStrategy's investment strategy centers on holding Bitcoin. Bitcoin fell approximately 1.65% over 24 hours to approximately $106,009, while MicroStrategy shares incrementally gained approximately 0.64% to $366.57. Bitcoin is currently trading at $105,262.05, down about 1.60% as Kraken's price indicates, and MicroStrategy's stock is currently also down about 1.69%, nearly the same amount that Bitcoin declined in the last 24 hours. Saylor has a shocking backup plan if Strategy stock crashes below $1 first appeared on TheStreet on May 30, 2025 This story was originally reported by TheStreet on May 30, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20 hours ago
- Business
- Yahoo
Bitcoin Slips Below $104K, Cryptos Slide as U.S.-China Tariff Tensions Flare Up
Markets went red on Friday on renewed tariff-related apprehensions. Bitcoin BTC is down 2.1% in the last 24 hours, trading just above $104,000 after briefly hitting a session low of $103,900. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, except for stablecoins, memecoins and exchange coins — slumped even further, by 4.2%. Smart contract platforms were particularly affected, with solana SOL, sui SUI and avalanche AVAX losing 6.3%, 7.8% and 7.3% respectively. Crypto stocks also took a hit, especially bitcoin mining firm Bitdeer (BTDR), down 8.3% on the day after a run-up that saw the stock rise 132% from April 16 to May 21. Strategy (MSTR) slid 2.7%, and Coinbase (COIN) 1.3%. The bleeding wasn't contained to crypto. The S&P 500 and Nasdaq are down 1% and 1.5% respectively, while gold lost 0.7%. Behind the price action was the flare-up of U.S. trade tensions once again after an agreement was struck earlier this month. The concerns came after President Donald Trump accused China in a post on Truth Social of "violating" the tariff truce between the countries. Meanwhile, Treasury Secretary Scott Bessent said in a Fox News interview that talks had "stalled" with the Chinese representatives. China, in response, urged the U.S. to "immediately correct its erroneous actions, cease discriminatory restrictions," BBC reported. The cool-off between U.S. and China helped risk assets rally in May, providing a tailwind for BTC to clinch a new record high. The re-escalation now threatens to unwind some of those in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
