Peter Schiff Says Michael Saylor's 'Self-Serving' Bullish Comments Behind Bitcoin's 'Big' Rally: He'll Be 'Selling At Low Prices Again' Soon

Economist Peter Schiff linked Bitcoin’s latest spike to Strategy Inc.’s ) acquisition and Michael Saylor’s “self-serving” commentary.Schiff Weighs in on BTC RallyBitcoin , its highest since late January, and is up nearly 18% over the week.Schiff attributed the rally to for $75.7 million, which ended a nearly month-long buying pause.Bitcoin rallied big yesterday. The catalyst seemed to be Strategy's latest Bitcoin buy and self-serving bullish comments from that the failure to pass the Clarity Act is actually bullish for Bitcoin. I'm sure he'd have said the same thing had the Act been passed into law.Schiff Jabs SaylorSchiff described Saylor’s remarks that the CLARITY Act’s failure marked a positive turning point for Bitcoin as "self-serving," which ended up being another catalyst for the rally.“I’m sure he’d [Michael Saylor] have said the same thing had the Act been passed into law,” the longtime Bitcoin critic took a dig.My thoughts on why the rejection of CLARITY marks a positive inflection point for Digital Assets, and why supportive rules and free markets should now accelerate innovation and growth. Schiff also slammed the company’s decision to sell Bitcoin at lower prices and later acquire it at higher prices.“It won’t be long before he’s selling at lower prices again,” the economist predicted.Strategy didn’t return Benzinga’s request for comment.During its last Bitcoin selling spree, Strategy sold 6,948 Bitcoin for approximately $431.8 million in net proceeds, or about $62,150 per Bitcoin. Now he's buying back some of what he sold for over $80K per Bitcoin. It won't be long before he's selling at lower prices again. Read Also: Bitcoin Just Hit a Seven-Month High. The Analyst Calling the Bottom Expects a Pullback Strategy’s Impressive ReboundStrategy has flipped from a $10 billion unrealized loss to $8 billion unrealized profit in recent weeks, aided by Bitcoin’s rapid climb. MSTR was also the Nasdaq-100’s top performer over the past month, surging 48%.As of this writing, Strategy holds 845,050 BTC, worth $73.34 billion, making it the world’s largest corporate buyer of the apex cryptocurrency.Strategy CEO Phong Le previously defended the firm’s practice of selling Bitcoin low and buying it high, adding that the company does not base its decisions specifically on the price of Bitcoin.Price Action: As of this writing, BTC is up 0.80% in the last 24 hours to $86,475, according to Benzinga Pro.Strategy shares rose 0.37% in after-hours trading. The stock closed 0.69% lower at $167.33 during Tuesday’s regular trading session.According to Benzinga’s Edge Stock Rankings, MSTR displays a stronger price trend in the short and medium term, but trails over the long term.https://www.benzinga.com/quote/MSTR See More: Top Quality Stocks Photo: Hi my name is Jacco on Shutterstock.com