Peter Schiff's recent comments about corporate investments in cryptocurrencies raise questions about the real business models of companies in this space.
Criticism by Peter Schiff
Peter Schiff, a well-known Bitcoin critic, voiced skepticism regarding corporate crypto investments, labeling companies involved as 'fools looking to take advantage of other fools' without real business models. He emphasized that such actions lead to an unreliable market.
Corporate Investment in Cryptocurrencies
Currently, over 100 public companies hold Bitcoin on their balance sheets, collectively owning around 852,467 coins. Leading players like BlackRock and MicroStrategy have accumulated nearly 1.3 million Bitcoins, amounting to 6% of the total supply of the cryptocurrency. Those wishing to invest in crypto assets continue to build their positions.
International Examples of Active Purchases
The global arena also shows activity in the cryptocurrency sector. Japan’s Remixpoint raised $215 million for Bitcoin acquisitions. In Germany, Nakiki SE became the first public company to adopt the 'Bitcoin standard.' China's Nano Labs invested $50 million in purchasing BNB. Swedish companies are also making strides in this direction: H100 Group bought 46.9 BTC, while Hilbert Group raised 200 million SEK for Bitcoin purchases.
Despite Schiff's criticism, companies seem determined to experiment with crypto assets, and interest in them continues to grow.
