“Smart Investors” Are Selling Bitcoin, According to Top Economist
Economist Peter Schiff, known for his skepticism towards Bitcoin (BTC), recently raised concerns about ETF investors facing potential losses.
In a recent statement , Schiff highlighted that while institutional investors are selling Bitcoin in the spot market, retail investors are purchasing it through ETFs.
He sarcastically credited Bitcoin whales for positioning ETF investors as potential “bag holders,” a term referring to those left with declining assets.
Schiff’s remarks follow ongoing market stress, compounded by potential large sell-offs from Mt. Gox.
READ MORE:
Bitcoin Whales Buy the Dip, Signaling Potential Bullish MomentumHe previously noted significant losses among Bitcoin ETF buyers, foreseeing more challenges if Bitcoin falls below $38,000.
Despite recent market downturns, US-listed spot Bitcoin ETFs reported significant inflows , indicating a potential rebound amid Schiff’s predictions of continued bearish sentiment for Bitcoin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Gold prices rebound, but expectations of Fed rate hikes remain upward resistance
Is the "buffer" for US stocks about to disappear?
While Increasing AI Investment and Striving to Control Costs, Oracle (ORCL.US) Adds Another $700 Million in Restructuring Costs for Fiscal Year 2026
Oracle stated in a regulatory filing submitted on Friday that as part of its restructuring plan, which includes layoffs, its costs will increase by approximately $700 million.
Oil prices are Trump’s “big trouble,” while the yen is everyone’s problem
Oil prices are approaching $110 per barrel, with only seven and a half weeks left before the midterm elections, and the probability of the Democratic Party regaining the Senate has surpassed 50%. Political and economic pressures are forcing the White House to seek relief. Meanwhile, the structural appreciation of the yen poses an even deeper global risk—the correction in the U.S.-Japan interest rate differential, large-scale Japanese capital repatriation, and the forced unwinding of carry trades are all likely to simultaneously push up European and American bond yields and awaken the VIX. A cross-asset volatility storm may already be brewing.
Crypto prices
More
