'Imagine If You Tried to Sell': Schiff Slams Saylor's $555 Million Bitcoin Move

Bitcoin ($BTC) broke above $88,000 today in a sudden post-holiday rally that caught much of the market off balance. Instead of a quiet Easter Sunday, they got fear-turned-to-FOMO almost overnight. Some are now calling this the final chance to buy before Bitcoin hits $100,000.

Then came another number: 6,556 $BTC. That is what Strategy just added to its balance sheet, dropping roughly $555.8 million at an average price of $84,785.

Executive Chairman Michael Saylor brought the company’s total holdings to 538,200 $BTC, now acquired at an average of $67,766 apiece. For context, that is more than 2.2% of all Bitcoin that will ever exist.

Of course, Peter Schiff could not ignore such a move and had a quick response for Saylor — not about the price action or the bullish case, though. Instead, he turned the focus around. Imagine what would happen, said Schiff, if Saylor tried to sell. The point is understandable — buying that much Bitcoin clearly moves the market, and selling it might do even more damage.

That is the question now. While Strategy’s buying power has helped push prices up, the other side of the trade is harder to ignore. Some analysts warn that a drop in Bitcoin or MSTR shares could trigger a knock-on effect. A lower stock price could weaken the collateral behind Strategy’s debt, possibly forcing asset sales — Bitcoin included.

With so much of the supply in one place, Bitcoin’s next chapter may depend as much on conviction as it does on liquidity. But Strategy's tactic has always been about holding, not selling. The position's size means its moves matter, and not just for shareholders.