Gate News message, April 27 — Gold bull and prominent Bitcoin skeptic Peter Schiff has argued that while MicroStrategy (MSTR) is approaching the 5% Bitcoin supply threshold that Michael Saylor once predicted would push BTC to $1 million per coin, the opposite outcome may occur.
According to Schiff, MSTR currently holds 3.9% of Bitcoin’s total supply. If the company continues purchasing the remaining approximately 231,700 BTC at the same marginal impact rate as previous acquisitions, Schiff suggests Bitcoin could instead fall below $60,000, contradicting Saylor’s original prediction.
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