bankrupt – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Sat, 19 Apr 2025 06:33:48 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.8 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 bankrupt – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Peter Schiff: Bitcoin a ‘Fraud,’ Strategy Will Probably Go ‘Bankrupt’ https://earlybirdsinvest.com/peter-schiff-bitcoin-a-fraud-strategy-will-probably-go-bankrupt/ https://earlybirdsinvest.com/peter-schiff-bitcoin-a-fraud-strategy-will-probably-go-bankrupt/#respond Sat, 19 Apr 2025 06:33:47 +0000 https://earlybirdsinvest.com/peter-schiff-bitcoin-a-fraud-strategy-will-probably-go-bankrupt/

The foreign equities and gold bug investor with over a billion dollars in assets under management took a big swipe at Bitcoin and Michael Saylor’s BTC-accumulating finance company, formerly named MicroStrategy.

He said Strategy will go bankrupt over Bitcoin. But if this is reverse psychology, it must be working on Saylor. His company still hasn’t stopped racing other firms for more BTC in whale-sized bites.

Peter Schiff Pulls No Punches on BTC in X Spaces Gag

To start off the program, Schiff said Bitcoin’s promoters sold it as a kind of digital gold, but it hasn’t performed like the precious metal at all, so the “marketing” was a “fraud.”

“The idea that it’s digital gold has been destroyed because it trades nothing like gold. It’s just some kind of risk asset.”

But, Bitcoin’s promoters did not say it would perform as an investment with ROIs like gold. They said it is similar in its economic properties to the metal because of its limited supply and the difficulty and cost of securing it.

While it is true that Bitcoin’s price lately has not traded like gold, that’s because over timescales very relevant to individual investors it has performed fantastically better than the yellow metal.

Bitcoin vs. Gold ROIs 2009-10 to Present

Some fraud that would be to explain to a judge:

Sorry, we told the litigant that the product was like an instrument that delivered 230% ROI in 16 years since 2009, and it only delivered 2.82 billion percent since 2010.

On the X podcast, Schiff asked:

“What purpose does Bitcoin serve? We got plenty of risk assets out there. It’s a super risk asset that’s going to go up faster than other risk assets. Based on what?”

He added, “At least a tech stock- there’s the story there of future earnings that could materialize, you’re buying a business that could earn money.”

Bitcoin provides a banking service, which is traditionally a very profitable, high-growth business because everyone needs it every day in a market economy.

Moreover, Bitcoin does so in a way that is simple and fundamentally useful. It is proven to work reliably, fairly, transparently, and easily for anyone to use.

Bitcoin’s price was up 36% over the trailing 12 months in mid-April.

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]]> https://earlybirdsinvest.com/peter-schiff-bitcoin-a-fraud-strategy-will-probably-go-bankrupt/feed/ 0 31636 Sei Foundation looks to acquire bankrupt 23andMe in major DeSci move https://earlybirdsinvest.com/sei-foundation-looks-to-acquire-bankrupt-23andme-in-major-desci-move/ https://earlybirdsinvest.com/sei-foundation-looks-to-acquire-bankrupt-23andme-in-major-desci-move/#respond Fri, 28 Mar 2025 10:17:14 +0000 https://earlybirdsinvest.com/sei-foundation-looks-to-acquire-bankrupt-23andme-in-major-desci-move/

The Sei Foundation is exploring the acquisition of 23andMe, a bankrupt genetic testing company, with plans to bring its data infrastructure onto the Sei blockchain.

In a statement released on March 27, the Foundation revealed that the acquisition would mark a significant step toward protecting genetic data through on-chain solutions.

According to the Foundation:

“We believe user data sovereignty is a matter of national security. When an American biotech pioneer faces bankruptcy, personal genomic data of millions becomes vulnerable to parties that may not share the same values of transparency and open access.”

Considering this, the Sei Foundation revealed that acquiring 23andMe would align with its broader mission to protect user data.

Sei believes its acquisition would allow individuals to gain complete control over their personal information by transitioning the company’s genetic records to a blockchain-based system. Users could decide how their data is shared, monetized, or stored—enabling a future where privacy and ownership come first.

23andMe, widely known for offering DNA testing kits that provide insights into ancestry, traits, and genetic health risks, recently filed for Chapter 11 bankruptcy in the United States. The filing aims to open the door for potential buyers to acquire the company’s assets and maximize shareholder value.

DeSci

Meanwhile, the Foundation also stressed that this is more than a rescue operation.

Instead, the organization sees the potential acquisition as a strategic push into Decentralized Science (DeSci), an emerging field that applies blockchain principles to scientific research and data management.

If the deal is completed, the acquisition would mark one of the first major efforts to integrate genetic science into the chain.

Besides that, the acquisition could also strengthen the DeSci movement, which continues to attract attention and funding.

As of press time, data from CoinGecko shows that tokens tied to DeSci initiatives hold a combined market value of over $657 million.

XRP Turbo
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