Economist and gold advocate Peter Schiff has called out Microstrategy executive chairman Michael Saylor’s latest bitcoin acquisition strategy, likening it to an old investment joke about market overreach. In a post on social media platform X Thursday, Schiff wrote:

Michael Saylor is the Egg Man. His latest announcement is that MSTR will spend another $42 billion to buy bitcoin, funded by issuing $21 billion in debt and $21 billion in equity over the next three years. This reminds me of a joke I heard a long time ago.

Schiff used the story of a fictional trader who, sensing a promising market, buys egg futures in ever-larger quantities as prices climb. The trader speculates on egg futures, initially purchasing 100 contracts at 25 cents each. After the price rises to 35 cents, he buys 1,000 more. As prices continue to surge — reaching 50, then 65, and eventually 95 cents per contract — he makes increasingly larger purchases, ultimately owning millions of contracts. When the price hits $1.75, he decides to sell 2 million contracts. His broker responds, “Sell to whom, you’re the egg man!”

The economist’s analogy underscores a potential liquidity trap that he believes could affect Saylor and his company, Microstrategy, if bitcoin prices eventually decline or stabilize.

Schiff, chairman of precious metals dealer SchiffGold, frequently criticizes bitcoin and promotes gold. Last week, he observed that while assets tied to a potential Trump victory are rallying, bitcoin is not, asking: “If a Trump win is bullish for bitcoin, why isn’t it rising with Trump’s betting odds?” The gold advocate suggested that speculators may have already invested and warned of a potential “Trump dump.” He also cautioned that the Federal Reserve risks repeating past policy mistakes with anticipated interest rate cuts and a likely return to quantitative easing (QE). According to Schiff, this approach will fuel more debt, drive consumer prices up, weaken the dollar, and reignite inflation.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。