Bitcoin reaches new all-time high due to Michael Saylor's purchase, praised by some despite criticism.

From Investing.com

December 16, 2024 12:30 PM:

Bitcoin hit a new all-time high of $106,488.25 before dropping to $104,693.33. Peter Schiff suggested Michael Saylor triggered the surge with a new purchase, noting Saylor’s weekly accumulation pattern. Despite criticism, Schiff highlighted Bitcoin’s popularity among those seeking wealth over riches, unlike gold buyers who aim to retain wealth.

Michael Saylor views Bitcoin as a hedge against inflation and a means to preserve the value of the U.S. dollar. MicroStrategy’s entry into the Bitcoin standard marks a milestone for the firm, positioning it as a leader in the crypto-focused space. Saylor’s belief in Bitcoin’s long-term value contrasts with Peter Schiff’s skepticism.

Read more at Investing.com: Bitcoin Critic Peter Schiff Reveals Key Reason Behind Latest ATH Milestone By U.Today