Bitcoin Price May Continue Falling Despite Michael Saylor's Accumulation Efforts

Peter Schiff, a well-known critic of Bitcoin, has expressed concerns about the cryptocurrency's future prospects despite efforts to accumulate more coins. At the ongoing Bitcoin Conference 2026, Schiff highlighted that Strategy, led by Michael Saylor, has increased its market share of BTC over the past year but failed to prevent a decline in price.

According to Schiff, Strategy now owns 3.9% of the total Bitcoin supply, up from 2.76% a year ago. However, he noted that this increase did not stop Bitcoin's value from falling by 30%. He questioned whether further accumulation by Strategy will have any impact on the price of BTC.

Schiff made these comments as Michael Saylor delivered a keynote speech at the conference, outlining his positive outlook for Bitcoin. Saylor emphasized the robust capital flows into digital credit and predicted that these funds will flow into the Bitcoin network, leading to an increase in its value. He also highlighted corporate demand for BTC, citing Strategy's recent purchase of $255 million worth of coins.