Peter Schiff Ties Bitcoin Rally to Strategy's Purchase and Saylor's Remarks
- —Strategy bought 950 BTC for $75.7 million at an average of $79,670 between September 14 and 20
- —Strategy's total holdings reached 846,000 BTC, acquired for $63.80 billion
- —Schiff noted Strategy previously sold 6,948 BTC at about $62,150 per coin
- —Bitcoin trades at $86,454 with a market cap of $1.737 trillion
Why it matters: The debate over the rally's true drivers matters for gauging whether the move is sustainable, with Strategy's purchases a key source of demand.
Source: The Crypto Times