Peter Schiff predicts MSTR Stock crash ‘Bloodbath’ ahead!
2024-10-24

MicroStrategy, the publicly traded company that holds the highest number of Bitcoin has been in controversy for the past few years due to its constantly surging stock price. 
In a recent X post, Peter Schiff, a known financial expert wrote that “MSTR is the most valued stock in MSCI Stock Index,” and “ When it finally crashes, that’s gonna be the real bloodbath. ” https://twitter.com/PeterSchiff/status/1848725505870070054
This is not the first time when Peter socially criticized MicroStrategy and he also disbelieves the MSTR plan to buy Bitcoin. When recently the firm gathered billions in stock sales for BTC investment boost it was sledged globally for this move. 
It is worth noting that when the U.S. government got approval to sell the Bitcoin seized from the SilkRoad incident Peter wrote an X post suggesting Michael Saylor and MSTR buy those BTCs. https://twitter.com/PeterSchiff/status/1843789560804978695
Todayq reported on September 13, 2024, that MicroStrategy bought additional Bitcoins worth $1.1 billion, and as of writing it was holding 252,220 BTC. it has acquired 18300 Bitcoins between August 6 and September 12, according to the information. 
In a November 2023 interview with Yahoo Finance, he expressed skepticism about Bitcoin’s inherent value, contrasting it with gold’s tangible worth. He argued that gold’s value stems from its unique properties and scarcity, whereas Bitcoin’s value is largely derived from speculative market forces.
He also drew comparisons between Bitcoin and other cryptocurrencies, suggesting that BTC’s value pales in comparison to the intrinsic value of gold, a precious and highly sought-after commodity.
Corporate Bitcoin holdings have surged 587% since June 2020, now comprising over 3% of total circulation, reports River Financial.MSTR Price Overview
As of writing, MSTR stock was trading at $213.95 falling over 2.50% in the past hours; despite this decline prices are still above the 20, 50, 100, and 200 days EMA. In terms of surge, its trading price grew more than 208% YTD. Source: TradingView 
The available pre-market data notes that the MSTR price might open with an addition of $1.36 in today’s trading session. 
In Q2, 2024 MSTR was expected to report negative $0.09 as EPS, though it reported EPS was negative $0.57. The analyst believes that in Q3 the company is expected to report a negative $0.12 EPS. 
Similarly, the revenue of the company mirrored EPS falling over 8.49% than expected figures. The annual estimated revenue of MSTR in 2024 is 476.99 million lower than the estimates of the previous year of $504.84 million. 
If the bullishness in the MSTR stock remains in the coming session there are possibilities that it could meet the resistance of $219.87. In case of unprecedented bearishness, the nearest support is $128.79 followed by $113.23. 
Data available on TradingView states that 99.96% of MSTR shares are free-floating and the remaining 82.17k shares are still closely held. In the past few years, the ownership pattern has changed and per speculation, the change has followed the Bitcoin buying strategy of MicroStrategy Incorporated. 
Dozens of published reports claim that MSTR has generated a huge profit from Bitcoin as it is among the early companies that bought BTC for lower prices. Until publishing it was trading at $67,094 after growing 5.21% in the past 30 days. 