Peter Schiff Claims Grayscale Will Sell BTC to Fund DCG’s Acquisition of GBTC...
Gold bug and bitcoin opponent, Peter Schiff has alleged that the Digital Currency Group (DCG)’s plan to acquire GBTC shares worth $250 million could be an indication that Grayscale Investment will be reducing the value of its AUM. In addition, Schiff claims in his tweet that “Grayscale will be selling bitcoin to help raise the cash needed to fund the buyback.” Schiff Rebuffed However, the BTC opponent’s latest attacks on Grayscale are immediately rebuffed by the company’s CEO Micheal Sonneinshein. In telling off the gold bug, the CEO said: Get your facts....
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Euro Pacific Capital CEO Peter Schiff is now training his guns on Grayscale Trust’s GBTC after the validation of his regular anti-bitcoin rhetoric was cut short by a resurgent crypto market. After rapidly falling to around $16,500 on November 26, BTC quickly recovered before it went on to set a new all-time high of $19,864 on November 30, 2020. Schiff Alleges a Conspiracy Realising that his long-standing rhetoric against BTC is not bearing fruit, Schiff now accuses Grayscale of fueling the bitcoin bubble through its paid for commercials on CNBC. Schiff claims the adverts are....
One of the major highlights of Grayscale’s victory over the US Securities and Exchange Commission (SEC) was its positive effect on Bitcoin’s price. However, renowned economist Peter Schiff has explained why Grayscale’s win may not be good for Bitcoin in the long run. A GBTC ETF ‘Bearish’ For Bitcoin Schiff tweeted that the GBTC fund becoming a spot ETF (Exchange-traded Fund) is “actually bearish” for the flagship cryptocurrency as he said this move could potentially increase Bitcoin’s “tradable supply.” Related Reading: Party In The USA: Ripple Gets Ready To Properly Celebrate Triumph....
The new allocation extends DCG’s purchase authorization for the Grayscale Bitcoin Trust by $250 million. According to an announcement issued on Wednesday, DCG is now authorized to buy up to $1 billion worth of Grayscale Bitcoin Trust (GBTC).This development extends DCG’s prior authorization by $250 million if they choose to do so. Indeed, DCG has so far purchased $338 million in GBTC, according to the company’s announcement on Wednesday.As previously reported by Cointelegraph, DCG had purchased $193.5 million worth of GBTC shares back in May 2021. At the time, the firm’s GBTC purchase....
Asset management firm Grayscale has disclosed new details about its new Bitcoin Mini Trust fund, a “spin-off” of the GBTC exchange-traded fund (ETF). The new fund, which was first announced in March, is expected to operate independently and offer a cost-effective investment option to GBTC shareholders. Grayscale Offers Industry-Low Fee With New Fund According to […]
Peter Schiff says he will sell his bank, Euro Pacific, for bitcoin if the Puerto Rican regulators let him sell it. “My bank was not put into receivership for being insolvent. It was put there for being under-capitalized,” the bitcoin skeptic said.
Peter Schiff Says He’s Willing to Sell His Bank for Bitcoin
Bitcoin skeptic and gold bug Peter Schiff is still trying to sell his bank, Euro Pacific. However, the Commissioner of Financial Institutions of Puerto Rico, also known as Oficina del Comisionado de Instituciones Financieras (OCIF), has suspended the....