Peter Schiff Reveals the Driving Force Behind BTC's Surge to $99,180!
Last Friday, Bitcoin soared to an astonishing high of $99,180, a feat that not only caught the attention of numerous cryptocurrency enthusiasts but also sparked the interest of many critics.
Among them, Bitcoin's well-known opponent, Peter Schiff, commented on social media, attributing the main reason for BTC's price surge to MicroStrategy's aggressive acquisition strategy.
Schiff pointed out that MicroStrategy raised $3 billion through convertible bonds to increase its Bitcoin holdings. He believes that this influx of funds could be a key factor driving the rise in cryptocurrency prices.
At the end of the article, Schiff wrote that this game will end when MicroStrategy "can’t find any fools willing to lend it money and buy its overpriced stock."
Peter Schiff often criticizes Bitcoin, calling it a speculative bubble, and emphasizes that institutional investors like MicroStrategy play an important role in BTC price dynamics.
Despite the current strong market rally and frequent trading activity, Schiff's comments also remind us that if demand from large holders decreases or economic conditions change, prices could experience significant volatility, presenting potential risks.
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