Peter Schiff: MicroStrategy’s Bitcoin holdings are approaching the 5% target, but BTC price may fall back below $60,000

Peter Schiff, a well-known gold bull and Bitcoin bear, pointed out in a post that Michael Saylor had predicted that if MicroStrategy ($MSTR) accumulated 5% of the total Bitcoin supply, BTC’s price would reach $1 million per coin. However, MSTR’s current holdings already stand at 3.9%. If it continues purchasing the remaining ~231,700 BTC and the marginal impact on price remains the same as before, BTC’s price could fall below $60,000—moving in the opposite direction of Saylor’s prediction.