Peter Schiff, a well-known Bitcoin critic, commented on the recent surge in Bitcoin's price. He claimed that the increased stock price of MicroStrategy, a company that invests heavily in Bitcoin, allowed its founder Michael Saylor to sell more stock and purchase more BTC, creating a cycle. Schiff also found irony in people buying Bitcoin as a hedge against inflation and a weak dollar, arguing that if the US government were to buy BTC, it would cause inflation. Lastly, Schiff pointed out that MicroStrategy's market value surpassed that of the world's two largest gold mining companies, which he considered crazy. This summary does not constitute investment advice.



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