Gold advocate and prominent Bitcoin BTC/USD critic Peter Schiff publicly mocked Strategy Inc. MSTR, formerly MicroStrategy’s CEO Michael Saylor, on Monday, predicting the software company's demise in response to Saylor's bullish tweet about the cryptocurrency.
Check out MSTR’s stock price over here.
Wait For MSTR To Go Out Of Business
As Saylor declared that “bitcoin is on sale,” Schiff retorted that prospective buyers should wait for the “Strategy going out of business sale” to purchase the digital asset.
MSTR CEO’s comment about Bitcoin being “on sale” follows a weekend of intense market volatility.
On Sunday, the price of Bitcoin experienced a flash crash, tumbling from over $114,000 to $110,000 in minutes. The sudden plunge was reportedly triggered by a single whale liquidating 24,000 BTC, which led to over $562 million in liquidations across the market in just 12 hours.
MSTR’s BTC Holdings
The sharp exchange comes as Strategy continues its aggressive accumulation strategy for Bitcoin.
According to an Aug. 18 filing, the company purchased an additional 430 BTC for approximately $51.4 million between Aug. 11 and Aug. 17, 2025.
This latest acquisition, made at an average price of $119,666 per coin, brought MicroStrategy's total holdings to 629,376 BTC. The total aggregate purchase price for its holdings stands at $46.15 billion, with an average purchase price of $73,320.
BTC Sell-Off Drags Crypto Market
The sell-off dragged down the broader crypto market, with the global market capitalization falling 2.14% to $3.92 trillion.
As of Monday morning, Bitcoin was trading at approximately $112,839, down over 2% in 24 hours and struggling to reclaim the key $114,600 support level that analysts see as critical for its next move.
Price Action
MSTR ended 6.09% higher on Friday. It was up 19.37% year-to-date and 143.79% over the last year.
Benzinga’s Edge Stock Rankings indicate that MSTR maintains a stronger price trend in the long term but a weaker price trend over the short and medium terms. However, the stock scores poorly on value rankings. Additional performance details are available here.
The SPDR S&P 500 ETF Trust SPY and Invesco QQQ Trust ETF QQQ, which track the S&P 500 index and Nasdaq 100 index, respectively, rose on Friday. The SPY was up 1.54% at $645.31, while the QQQ also advanced 1.54% to $571.97, according to Benzinga Pro data.
On Monday, the futures of the S&P 500, Dow Jones, and Nasdaq 100 indices were trading lower.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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