As per Coinpedia, Strategy Inc has announced the creation of a $1.44 billion USD Reserve to cover at least 12 months of preferred dividends and interest payments. The reserve was funded through at-the-market stock sales, and the company now holds 650,000 BTC. Michael Saylor described the move as the next step in the company’s evolution, while Peter Schiff, a long-time crypto critic, called it a sign that the business model is broken and labeled Saylor as a conman. Schiff argues that the need to raise cash for obligations, rather than for Bitcoin purchases, indicates a failure in Strategy Inc’s Bitcoin-leveraged strategy.
Peter Schiff Criticizes Michael Saylor as Strategy Inc Builds $1.44B USD Reserve
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