Schiff Marks Bitcoin Drop as Saylor's Treasury Reaches Cost Basis

U.Today reported that Peter Schiff responded to Bitcoin’s recent decline by congratulating Bitcoin holders and directing sarcastic jabs at its supporters. His comments came as the Bitcoin treasury firm associated with Michael Saylor returned to its acquisition cost basis following the market downturn. The development reflects a substantial reduction in the portfolio’s unrealized gains: Bitcoin’s price has fallen back to the level at which the treasury position is described as breaking even. The coverage did not provide the size of the holdings, its aggregate purchase price, or the duration over which the company reached cost basis. Schiff has long been a prominent critic of Bitcoin, but the report focused specifically on the decline and the treasury firm’s return to cost basis rather than presenting a new investment thesis or policy announcement. The reaction also illustrates the heightened sensitivity surrounding corporate Bitcoin holdings when the underlying asset retreats.

Bitcoin was trading at $75,723, down 0.19% over 24 hours and 2.40% over seven days, according to the supplied market data. Its market capitalization stood at $1.52 trillion, while the total crypto market remained broadly flat at $2.61 trillion. The Fear & Greed index registered 25, placing sentiment in the Extreme Fear category. The combination of weekly losses, extreme fear, and a reported move back to cost basis frames the immediate issue for investors: the treasury position’s cushion has been erased while broader sentiment remains defensive.