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Peter Schiff warned that the price of Bitcoin (BTC) may continue to decline despite the heavy buying activity by Michael Saylor. His comments come amid the upcoming Bitcoin 2026 conference.
Peter Schiff is pessimistic about Bitcoin's future despite his institutional accumulation.
Schiff pointed out in a post on X that the share of Bitcoin owned by Strategy company increased over the past twelve months. He said: "A year ago, at the Bitcoin conference in Las Vegas, Strategy owned 2.76% of the total Bitcoin supply. After a year, it has increased to 3.9%."
However, he stated that the value of Bitcoin decreased during that period despite Strategy's increased Bitcoin purchases. Schiff added: "The increase in the company's market share by 40% did not prevent the Bitcoin price from falling by 30%." He wondered whether ๐โค๏ธ๐ซ๐ซ๐ซ๐ซ๐ซ