Key Highlights:
- MicroStrategy (now known as Strategy) announced on X today, March 2, 2026, that it has bought 3,015 BTC.
- The company now holds 720,737 BTC.
- Peter Schiff criticized this buy on X.
MicroStrategy’s Executive Chairman, Michael Saylor, recently announced on X today, March 2, 2026, another major Bitcoin (BTC) purchase, showing the company’s strong commitment to holding the cryptocurrency for the long-term. According to the X post, the company bought 3,015 BTC for about $201.1 million, paying an average of $67,700 per coin.
With this buy, MicroStrategy now holds 720,737 BTC in total, which it has accumulated over time for roughly $54.77 billion, averaging $75,985 per BTC.
This moves continues the company’s aggressive strategy of using equity offering to fund Bitcoin purchases, making it one of the largest corporate BTC holders in the world with around 3.4% of all BTC in circulation.
Bitcoin Prices Dip Amid Market Uncertainty
At the time of the purchase, Bitcoin’s price was between $66,000 and $67,000 reflecting a dip in the market amid wider economic uncertainty as per CoinGecko. Based on current prices, MicroStrategy’s BTC stash is worth between $47.4 billion and $48.7 billion. This means the company is sitting on an unrealized loss of about $7.35 billion.
Saylor described the move as a “strategic dip-buy,” lowering the firm’s average BTC cost to just under $76,000 for the first time in months, while reinforcing his belief that BTC is a valuable long-term asset, often called “digital gold.”
Peter Schiff Fires Back on Gold vs. Bitcoin
The purchase sparked a quick reaction from Peter Schiff, the economist and gold advocate who has long criticized Bitcoin. Schiff commented on X. With his post, Schiff was seen criticizing MicroStrategy’s strategy of aggressively buying Bitcoin during dips.
Schiff’s statement also shows that there is a major difference between gold and Bitcoin. According to him, MicroStrategy is buying more Bitcoin at a loss. Their overall losses are still growing despite averaging down. According to Schiff, gold would have been a safer and more profitable choice instead.
Saylor-Schiff Debate Highlights Risk and Reward
Saylor and Schiff have been often seen taking jab at each other and support their own opinion about the current price and future price movement of gold and Bitcoin respectively.
Saylor has stated that the limited supply and future growth opportunities for BTC make it a vital factor for investors as traditional currencies become weaker.
Also Read: Metaplanet: How a Hotel Company Became a Bitcoin Powerhouse
Source: https://www.cryptonewsz.com/microstrategy-buy-bitcoin-schiff-growing-loss/
