Bitcoin Critic Peter Schiff Takes Aim at MicroStrategy Co-Founder Michael Saylor, Accusing the Latter of Misleading His Audience with False Promises

Longtime Bitcoin critic Peter Schiff recently took aim at MicroStrategy co-founder Michael Saylor, accusing the latter of misleading his audience with false promises.

Bitcoin skeptic Peter Schiff has slammed MicroStrategy co-founder Michael Saylor, accusing him of misleading his audience with false promises.

Schiff, who is known for his pro-gold stance, took aim at Saylor's recent comments about the "Bitcoin journey" at the H.C. Wainwright Annual Global Investment Conference in New York.

According to Schiff, the journey touted by Saylor, which begins with skepticism and ends with maximalism, actually concludes with "heavy losses."

"In truth, the Bitcoin journey is not quite as he describes. It beings with a sucker and ends with heavy losses," Schiff wrote in a social media post.

Apart from criticizing Saylor's statements, Schiff also challenged him to a debate. "Again Saylor mentions me, but won't debate me," he added.

Saylor, who was named by Time magazine as one of the 100 most influential people in 2022, has frequently spoken about his own Bitcoin journey, which began with skepticism and culminated in him becoming one of the cryptocurrency's biggest proponents.

During his keynote speech at the conference, Saylor stated that he initially dismissed Bitcoin in 2013, comparing it to online gambling and predicting that it would not last.

However, as Bitcoin's value (and staying power) continued to increase, Saylor said he "saw the light" and realized that the cryptocurrency was here to stay.

"I've seen the light. Bitcoin is gonna change the world. It's unstoppable," Saylor said at the event, adding that everybody goes through the same Bitcoin journey, from being born as a denier and eventually becoming a maximalist.

Schiff's journey with Bitcoin has been notably distinct. The gold bug first dismissed the cryptocurrency in 2011, and despite Bitcoin proving him wrong on numerous occasions (almost constantly), he has yet to express any enthusiasm for the digital asset.

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