Summary
- CEO Peter Schiff diagnosed that Bitcoin is artificially supported due to purchases by MicroStrategy and Mara Holdings.
- He stated that this artificial support could potentially lead to disaster in the Bitcoin market.
- Currently, Bitcoin is trading at a price down 2.05% from the previous day on Binance.
Peter Schiff, CEO of Euro Pacific Capital, known as a Bitcoin (BTC) skeptic and a prominent gold bull, stated on the 10th (local time) via X (formerly Twitter) that "Bitcoin is artificially supported by leveraged purchases from MicroStrategy (NASDAQ: MSTR) and U.S. virtual asset mining company Mara Holdings in the absence of real demand," and warned that "this could lead to disaster."
Meanwhile, BTC is trading at $95,947.22, down 2.05% from the previous day, on the Binance Tether (USDT) market as of 01:12 on the 11th.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
