Peter Schiff Offers Sarcastic Bitcoin Advice for Trump Media
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Peter Schiff, a long-time economist and vocal critic of Bitcoin, has once again stirred the crypto pot. This time, he is targeting Trump Media & Technology Group (TMTG), the company behind the stock ticker DJT.
In a bold and potentially tongue-in-cheek tweet, Schiff suggested that TMTG, which he claims “doesn’t actually have a business,” should consider taking a page from MicroStrategy’s playbook.
In a post on X (formerly Twitter), Schiff says that TMTG should convert its cash holdings into Bitcoin (BTC). Further, he urges Trump Media & Technology Group to borrow billions and issue more shares to buy even more Bitcoin, setting DJT stock up for a “moonshot.”
“Since DJT stock does not actually have a business, why doesn’t it just use its cash to buy Bitcoin?” Schiff wrote.
Likely, with his usual hint of irony, the Bitcoin skeptic urges the firm to follow the Michael Saylor business playbook.
“Borrow billions and issue more shares, then use the money raised to buy even more Bitcoin,” he added.
This suggestion may seem uncharacteristic, given Schiff’s history with Bitcoin. He recently dismissed the BTC price surge as the “biggest bubble in history.” Schiff has been one of Bitcoin’s most relentless critics, frequently arguing that the asset lacks intrinsic value and will eventually crash.
Recently, he openly stated that many of his Bitcoin-related tweets are sarcastic, adding a layer of humor to his otherwise pessimistic views on the cryptocurrency. For Schiff, this latest comment appears to play into that tone, positioning TMTG’s potential Bitcoin strategy as a satirical example of the high-risk approach taken by companies like MicroStrategy.
