Frank Giustra is a Canadian billionaire businessman, mining financier, and philanthropist who is well-known within the crypto circles for his strong opinions on the digital assets market. As
Frank Giustra is a Canadian billionaire businessman, mining financier, and philanthropist who is well-known within the crypto circles for his strong opinions on the digital assets market.
As Bitcoin (BTC) still trades 50% lower than the all-time high (ATH) of $126,080 it reached on Oct. 6, 2025, he revealed what the "worst thing" to ever happen to Bitcoin is.
Related: Jim Cramer rethinks Bitcoin after IBM CEO's three-year warning
On Aug. 2, Nic Carter remarked that Bitcoin maximalism is over and Bitcoin will beneficially remain stripped of the cult around it. "Saylor has to go belly up," analyst Jan Nieuwenhuijs responded.
Michael Saylor is the co-founder and executive chairman of Strategy (Nasdaq: MSTR), the world's largest Bitcoin treasury company. As per Nieuwenhuijs, Saylor is going to fail and eventually go out of business.
"He is the worst thing that ever happened to Bitcoin," Giustra replied.
When a user said Giustra is just upset about allegedly not doing well in a debate with Saylor in April 2021, the billionaire responded that Bitcoin was trading around $65,000 and gold at $1,700 per ounce back then.
While Bitcoin is still trading around the same price, gold is currently trading above $4,000 per ounce.
This isn't the first time Giustra has slammed Saylor; in fact, he has previously criticized the Bitcoin accumulation model of Saylor's Strategy as "promotional" and based on "greed and FOMO."
Strategy disclosed that it sold 1,638 BTC for $104.73 million during July 27–Aug. 2. This is its third Bitcoin sale this year after 32 BTC for about $2.5 million during May 26–31 and 3,588 BTC for $216 million during June 29–July 3.
With 843,138 BTC on its balance sheet, Strategy is still the world's largest Bitcoin treasury.
Saylor has once argued, "Sell a kidney if you must, but keep the Bitcoin." On Aug. 3, he claimed that the "never sell your Bitcoin" creed only applied to individual savers, not a public company like Strategy.
BTC/USD, Source: Decibel"I have never sold mine. Not one satoshi," the Strategy founder said of his personal Bitcoin holdings.
Bitcoin was trading at $63,836 at the time of writing, as per Decibel.
Related: Michael Saylor finally breaks silence on personal Bitcoin holdings
