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Peter Schiff Wonders Why Bitcoin Keeps Dropping Despite Michael Saylor’s Aggressive BTC Accumulation—Critics Clap Back
Economist Peter Schiff questioned on Tuesday Bitcoin’s (CRYPTO: BTC) decline over the past year, despite Strategy Inc. (NASDAQ:MSTR) substantially boosting its BTC reserves during the same time.
Schiff Targets Saylor’s Strategy Again
In an X post, Schiff chose the 2025 Bitcoin Conference as the reference point. He noted that Michael Saylor’s firm increased its Bitcoin holdings from 2.76% of the total supply at that time to 3.9%—right as the key 2026 conference kicks off.
The 2025 Conference was held in Las Vegas from May 27 to May 29. At the time, Strategy held 580,250 BTC. Earlier this week, it reported its latest purchase, boosting the reserves to 818,334 BTC, suggesting a nearly 40% increase.
Moreover, BTC traded around $109,000 during the 2025 event. It has since declined by about 30%.
“A 40% increase in market share didn’t stop Bitcoin from falling by 30%. …
Stock Market Today: Dow Jones, Nasdaq Futures Gain Ahead Of Powell’s Last Speech As Fed Chair— Robinhood, Starbucks, Alphabet In Focus
U.S. stocks rose on Wednesday, following Tuesday’s lower close. Futures of the major benchmark indices were higher.
Investors will be closely watching the Federal Reserve’s decision to gauge how the central bank is navigating interest rates amid the ongoing U.S.-Iran war. Additionally, Jerome Powell‘s press conference at 2:30 p.m. ET is widely considered to be his last as Chair of the Fed.
The CME Group’s FedWatch tool‘s projections show markets pricing a 100% likelihood of the Federal Reserve leaving the current interest rates unchanged in today’s meeting.
Four out of seven ‘Magnificent 7’ heavyweights will announce their earnings results today after the bell, which include Microsoft Corp. (NASDAQ:MSFT) and Meta Platforms Inc. (NASDAQ:META).
Meanwhile, the 10-year Treasury bond yielded 4.36%, and the two-year bond yield was at 3.85%.
| Index | Performance (+/-) |
| Dow Jones | 0.09% |
| S&P 500 | 0.08% |
| Nasdaq 100 | 0.29% |
| Russell 2000 | 0.18% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were higher in premarket on Wednesday. The SPY was up 0.063% at $712.14, while the QQQ advanced 0.21% to $658.90.
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Crypto Market News
Polymarket denies data breach, says hacker is selling public data
The apparent hacker claimed to have breached other prediction markets and planned to release the data in the next few days.
Aptos says its new privacy coin seeks to fix one of crypto’s biggest trade-offs
Aptos said its new privacy coin could be used to enable businesses to transact onchain without competitors tracking treasury moves and trading strategies.
CFTC pulls Wisconsin into fight over prediction market jurisdiction
The US Commodity Futures Trading Commission has sued Wisconsin in the agency’s fifth lawsuit against a US state to assert jurisdiction over prediction markets.