Peter Schiff, a well-known Bitcoin critic, has criticized the current investment strategy of betting on the U.S. government buying Bitcoin. He predicts that if the government decides not to buy BTC, panic will ensue among investors who bought the coin with the expectation of profiting from it. Schiff believes that this will lead to massive sales of Bitcoin, flooding the market and causing the price to decline. He suggests that MicroStrategy, which has heavily invested in BTC, will be forced to continue borrowing to support large purchases in order to prevent a crash. However, Schiff warns that this strategy is unsustainable and could eventually lead to a more significant crash, starting with MicroStrategy's stock. He believes that once the trigger is pulled, Bitcoin will follow suit as the broader market reacts. Schiff has been a vocal critic of Bitcoin and sees it as a speculative bubble. At the time of writing, the BTC price had declined by 5.55% in the last 24 hours.



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