Bitcoin has been struggling for three weeks to stay above $20,000, and this week was no exception—the world’s favorite cryptocurrency, as of this writing, was hovering just above $19,000. Many Bitcoin maximalists didn’t appear too concerned. And others have been buying the dip.
Microstrategy CEO and whale-sized Bitcoin HODLer Michael Saylor announced another large BTC purchase, although that didn’t seem to impress pro-gold economist Peter Schiff.
Increasing your stake by less than .004% seems more like an attempt to influence the market by demonstrating your conviction to other investors. But if you're so sure #Bitcoin is cheap, why not buy $100 million? You must think there's still a lot of downside left in this move.
— Peter Schiff (@PeterSchiff) June 29, 2022
El Salvador’s authoritarian president, Nayib Bukele, also bought more BTC, which should be no surprise to regular column readers.
But Saylor and Bukele, in a bit of a twist, weren’t the center of attention during the week....
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