Peter Schiff Calls MicroStrategy’s Michael Saylor “Con” for Pitching Bitcoin to CEOs

Shots fired …

Infamous gold bug and the virtuoso of triggering bitcoin hodlers, Peter Schiff, claims MicroStrategy CEO, Michael Saylor, has refused to debate him and implies Saylor is “trying to con CEOs into buying valueless digital tokens.”

“Michael Saylor refused an invitation to debate me from a pro-#Bitcoin moderator. I had already agreed to participate. I don’t blame Saylor for chickening out,” Schiff tweeted Monday.

“If I was trying to con CEOs into buying valueless digital tokens for $50K each I wouldn’t want to debate me either,” he continued, referring to bitcoin.

Saylor’s company MicroStrategy recently held a virtual conference titled “Bitcoin for Corporations“ where the company shared strategies on acquiring and using bitcoin as a treasury reserve asset with over 1,000 firms.

According to Saylor, the bitcoin themed conference attracted more CEO attention than any of his company’s prior events.

Notably, representatives for Elon Musk’s SpaceX attended the event which took place just days before Tesla announced a $1.5 billion investment in bitcoin.

MicroStrategy disclosed in August 2020 that it had added bitcoin to its balance sheet. The move marked only the beginning of the company’s allocation into the cryptocurrency as it now holds more than 70,000 BTC.

MicroStrategy has also recently completed a $1.05 billion convertible debt offering to buy more bitcoin.

While there is no public response to Schiff from Saylor yet, it is reasonable to believe that he will respond at some point.

Saylor has been consistently laying out his perceptions of bitcoin’s value proposition on various channels, both big and small, having become an evangelist for the cryptocurrency which he describes as a well engineered monetary system that serves as a superior store of value than traditionally held assets like Gold and the U.S. dollar.

Schiff on the other hand has been very driven to convince the social media verse that bitcoin has no value.

When responding to a recent tweet from Elon Musk, Schiff alluded that bitcoin is nothing but a worthless, frivolous scheme.

Schiff’s almost daily bearish tweets of bitcoin normally spark an outraged response from believers in the digital asset.

The gold bug argues that bitcoin can’t possibly have value since it is only digital while evangelizing for gold as the best form of money and best vessel to store value with.

Despite Schiff’s relentless campaign to convince the world that bitcoin has no value, his words have fallen on deaf ears as Mastercard, PayPal, Square, Tesla, BlackRock, and multiple university endowments now hold or support bitcoin.

… We’ll be waiting to hear from Saylor.

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