CandleFocus Peter Schiff Says MicroStrategy Should Buy $4.3B Seized Bitcoin from Silk Road
2024-10-09
Author: Content Editor
The United States Supreme Court has declined to review a case involving the ownership of 69,370 Bitcoin seized from the Silk Road dark web marketplace, giving the U.S. government full control over the $4.38 billion worth of Bitcoin. Long-time Bitcoin critic Peter Schiff commented on the decision, suggesting that MicroStrategy should consider borrowing $4.3 billion to buy the seized Bitcoin, in a sarcastic dig at MicroStrategy chairman Michael Saylor. Schiff, who believes Bitcoin lacks intrinsic value, continues to stir debate within the Bitcoin community. This comes after the U.S. government recently transferred 29,800 Bitcoin to an unknown wallet, contradicting former President Donald Trump's promise not to sell any Bitcoin holdings if elected. Senator Cynthia Lummis has also introduced legislation to make Bitcoin a strategic reserve asset for the United States.
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