Peter Schiff has expressed that the recent support for Bitcoin is driven by intense buying activity rather than genuine market strength. He stated on X that without this influx of purchases, the market would be significantly lower. He remarked, “This situation is becoming absurd. I can’t help but wonder how much further Bitcoin’s price would have fallen without all this buying frenzy. This level of activity cannot sustain itself indefinitely; a downturn is unavoidable. The larger the pyramid grows, the greater the losses will be when it collapses.”
The timing of his comments is particularly noteworthy as they coincided with Michael Saylor revealing that Strategy had acquired an additional 34,164 $BTC for approximately $2.54 billion at an average price of $74,395 per bitcoin. Saylor also mentioned that Strategy achieved a 9.5% yield on $BTC year-to-date in 2026 and now possesses a total of 815,061 $BTC, which were purchased for around $61.56 billion at an average cost of $75,527 each.
Schiff Reiterates His Long-Standing Warning About Bitcoin
This latest commentary from Schiff aligns with his long-standing skepticism regarding Bitcoin’s future performance. An accompanying post on X featured one of his earlier warnings indicating that Bitcoin could continue to decline even after substantial losses—highlighting his consistently bearish outlook towards this cryptocurrency.
This time around, however, he specifically targets what he perceives as the primary force keeping prices afloat: significant corporate accumulation activities. Schiff’s argument is clear; he believes that such large-scale purchases are artificially supporting Bitcoin in a manner that cannot persist indefinitely.
Strategy Increases Its Investment in Bitcoin Once More
The recent acquisition by Strategy was confirmed through an SEC filing dated April 20, 2026, which detailed their latest purchase and updated their total holdings to over 815,000 $BTC.
This highlights just how bold their investment strategy has become; with an average cost basis set at $75,527 per coin—close to current market levels—Strategy continues to increase its exposure while Bitcoin remains within a narrow trading range instead of waiting for a definitive breakout.
Bitcoin Price Stays Close to Key Resistance Level
<pRecent analyses indicated that Bitcoin has been consolidating near the resistance cluster between $75K and $76K after bouncing back from levels around $60K.
This zone represents crucial pivot points for potential future movements: if it breaks above these levels it could lead toward targets like $79K and subsequently up to $83K; conversely failure here might result in prices retreating back toward support between approximately $73K and $74K.
This places Bitcoin at a pivotal juncture where Schiff views it as being propped up by aggressive buyers while Saylor continues investing billions into exposure within this volatile environment. Currently situated almost precisely where these discussions hold significance: near resistance levels aligned with Strategy’s purchasing averages and under renewed scrutiny from one of its most vocal critics.
Related: Forecasts suggest pressure building around $BTC, hovering near the critical threshold at$75k as markets anticipate potential breakouts ahead.