Gold advocate Peter Schiff reignited his feud with the Bitcoin world, this time directly targeting Michael Saylor and the capital structure of MicroStrategy (MSTR). He argued that the high-yield preferred shares of this Bitcoin concept stock are severely misunderstood by investors. His warning was straightforward: dividends will only be distributed when MSTR decides to declare them, and unreported dividends will not accumulate; they will be lost forever.

BitMine (BMNR) bought 54,000 ETH ($173M), now holds 3.6M ETH—3% of supply. BMNR stock fell 2.6% despite $607M cash. Tom Lee blames liquidity crisis from wounded market makers post-Oct 10 crash. Expects 6-8 week recovery, cycle peak in 2026 via tokenization.

After Bitcoin reached a new high, it has pulled back over 30% of its gains this year in just one month. On November 18, it hit a low of $89,296, which caused related Bitcoin concept stocks that had previously thrived on Bitcoin to face a downturn. Lite-On (2465), Biostar (2399), Adata (3540), Chingis (2425), Hantion (6150), Li-Jin (3444), and QCY (5386) all turned from red to black, becoming a disaster area.

Bitcoin concept stocks refer to publicly listed companies whose businesses are related to Bitcoin, including Bitcoin mining, crypto assets trading platforms, digital payment services, and blockchain technology development. With the approval of the Bitcoin spot ETF by the U.S. SEC at the beginning of 2024, crypto assets officially enter the mainstream financial system, making stocks like Block and MicroStrategy highly followed. These types of stocks have high leverage characteristics, and when the price of Bitcoin rises, the increase may surpass that of Bitcoin itself.

MicroStrategy (MSTR) resumes large purchases of Bitcoin. Documents submitted to the U.S. Securities and Exchange Commission (SEC) on November 17 show that the company has purchased 8,178 Bitcoins. This purchase amount marks a significant increase compared to the company's weekly investments of about 400-500 Bitcoins in October and early November, and this acquisition comes at a time of severe fluctuation in Bitcoin prices.

Circle announced its third-quarter revenue to be 740 million USD, exceeding market expectations, but CRCL stock closed with a big dump of 12.2% on that day. The Bernstein analyst team indicated that the recent weakness in Circle's stock price reflects the market's excessive concerns over interest rate cuts and competitive pressures from companies like Stripe, rather than any structural deterioration. The analysts reiterated their "outperform" rating on the stock with a target price of 230 USD.