Renowned economist Peter Schiff challenged MicroStrategy Inc.’s (NASDAQ:MSTR) co-founder Michael Saylor’s argument that Bitcoin’s scarce supply would continue to drive its price higher.

What Happened: In an X post on Tuesday, Schiff acknowledged Bitcoin’s deflationary character but argued that it would be beneficial as long as it is supported by robust demand and existing holders don’t sell.

“But when the supply of new buyers runs low and those who own it want or need to sell it, the lack of new demand causes the price to crash,” the staunch Bitcoin critic asserted.

Yes, #Bitcoin has a limited supply. As long as more people want to buy it, but those who already own it don’t sell, …

Full story available on Benzinga.com

Renowned economist Peter Schiff challenged MicroStrategy Inc.’s (NASDAQ:MSTR) co-founder Michael Saylor’s argument that Bitcoin’s scarce supply would continue to drive its price higher.

What Happened: In an X post on Tuesday, Schiff acknowledged Bitcoin’s deflationary character but argued that it would be beneficial as long as it is supported by robust demand and existing holders don’t sell.

“But when the supply of new buyers runs low and those who own it want or need to sell it, the lack of new demand causes the price to crash,” the staunch Bitcoin critic asserted.

Yes, #Bitcoin has a limited supply. As long as more people want to buy it, but those who already own it don’t sell, …

Full story available on Benzinga.com

 Renowned economist Peter Schiff challenged MicroStrategy Inc.’s (NASDAQ:MSTR) co-founder Michael Saylor’s argument that Bitcoin’s scarce supply would continue to drive its price higher.
What Happened: In an X post on Tuesday, Schiff acknowledged Bitcoin’s deflationary character but argued that it would be beneficial as long as it is supported by robust demand and existing holders don’t sell.
“But when the supply of new buyers runs low and those who own it want or need to sell it, the lack of new demand causes the price to crash,” the staunch Bitcoin critic asserted.

Yes, #Bitcoin has a limited supply. As long as more people want to buy it, but those who already own it don’t sell, …Full story available on Benzinga.com   Read MoreBitcoin, Cryptocurrency, Michael Saylor, MicroStrategy, MSTR, News, Peter Schiff, scarcity, Markets, MSTR, US5949724083, News, Cryptocurrency, Markets, Benzinga Markets