Peter Schiff Says Bitcoin Is As High As It Is Due To Michael Saylor, But Predicts Strategy Chair Will ‘Run Out Of Firepower’ Eventually

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.”

Full story available on Benzinga.com