Peter Schiff challenges Michael Saylor's Bitcoin strategy and can use stablecoin issuers

bring competition to tether and circle. You're watching CoinDusk Daily. I'm your host, Jen Sanassi.

Euro Capital CEO Peter Schiff is challenging Michael Saylor's Bitcoin strategy over the critical issue of liquidity.

Schiff argued that billions of dollars in gold could be sold with limited market impact while trying to exit a similar Bitcoin position could hit prices hard and set off copycat selling.

Bitcoin supporters would counter that any large seller could stage exits over time and use over-the-counter channels,

but Schiff's point is that gold's market depth offers more flexibility to very large holders.

The debate cuts to the core question of whether the Bitcoin market is truly deep enough for major institutional players.

This comes as strategy bought another 196 Bitcoin for $22.1 million at an average price of $113,048

that boosts their total holdings to $640,031 Bitcoin. A new challenge is emerging for stable coin

giants like Tether and Circle targeting their core business model. This is according to Wormhole's

co-founder Dan Reeser. He spoke as a panelist at the Mercado Bitcoin's DAC 2025, saying that these

firms are effectively printing money by pocketing the massive interest earned from the U.S.

Treasuries backing their tokens, while holders who provide the capital C-Zero returns.

As interest rates remain elevated, research suggests that it's only a matter of time before users expect a share of that yield or move their funds elsewhere.

With new platforms like MZero and Degora being built to funnel that yields directly back to users,

will the stable coin giants face competition?

Thank you. the stable coin giants face competition. And Bitcoin is on the rise as we get close to the exit of September.

The largest cryptocurrency by market cap is up 2% on the day, breaking above the $112,000 mark, but analysts are remaining cautious. Bitcoin's monthly

low tends to occur within the first 10 trading days, meaning the next dip could arrive within the

next two weeks. That's even though October, often referred to as up, is historically its second best performing month with an average return of 22%.

For Bitcoin to break out of its current $110,000 to $120,000 trading range,

volatility and sentiment will need to return. Could the start of the fourth quarter of 2025

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