Economist Peter Schiff said in an interview aired Monday that people will lose faith and dump their Bitcoin (CRYPTO: BTC) once Michael Saylor ceases his buying spree for Strategy Inc. (NASDAQ:MSTR).
Saylor’s Buying Spree Shapes Bitcoin’s Future?
Speaking to cryptocurrency influencer Kyle Chassé, Schiff argued that Bitcoin’s rise has been fueled primarily by Strategy’s continuous accumulation.
“Basically, he’s [Saylor] the reason that Bitcoin is as high as it is,” Schiff said. “He is a huge factor, and it’s not just Strategy’s buying of Bitcoin that has fueled it, but because people know that he’s going to keep buying Bitcoin.”