Staunch Bitcoin BTC/USD advocate Max Keiser slammed MicroStrategy Inc. MSTR co-founder Michael Saylor for casting aspersions on the Bitcoin strategy adopted by the Nayib Bukele-led El Salvador administration.
What Happened: Keiser took to X on Thursday to respond to Saylor’s broader argument questioning investments in Bitcoin without any expectation of a yield on it.
During an interaction with Saifedean Ammous, the author of the famous book “The Bitcoin Standard,” Saylor asserted that El Salvador would eventually have to liquidate their Bitcoin stash to pay their expenses if they don’t get any yield on it.
“I put the question to you. What’s the point of El Salvador or your family accumulating all of your capital in Bitcoin if you expect zero yield forever and you’re never going to borrow against it,” the Bitcoin billionaire added.
Keiser, who serves as senior Bitcoin adviser to El Salvador President Nayib Bukele, did not take these observations well.
“Michael Saylor is unequivocally wrong while slandering El Salvador. El Salvador is reducing debt & growing GDP (and buying more Bitcoin every day) without exposing El Salvador to the counterparty risk that Saylor is exposing his shareholders to,” Keiser hit back. “You owe Nayib Bukele an apology, dude.”
Why It Matters: Keiser’s fiery response was noteworthy given his endorsement of Saylor’s Bitcoin strategy in the past.
In January, Keiser credited Saylor for taking Bitcoin “out of the shitcoin gutter” and setting the stage for Bitcoin ETF approvals.
Just last month, he heaped praise on MicroStrategy’s stock, underscoring its limitless growth potential.
As of this writing, the Central American nation holds 5,878.76 Bitcoins in its reserves, worth more than $372 million.
Price Action: As of this writing, Bitcoin was exchanging hands at $63,317.85, up 2.01% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy: Shutterstock.com
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