Bitcoin Veterans Cashing Out Could Trigger Deeper Losses, Schiff Claims
Bitcoin has tumbled more than 30% from its all-time high of $126k and is trading around $85,500 after briefly falling to $82K, according to market reports. Traders warn that recent moves by long-term holders are changing how the market reacts to stress. Liquidity has thinned, and that makes price swings larger than usual. Related Reading: Dogecoin Goes Wall Street: Grayscale Confirms Nov. 24 ETF Launch Schiff Issues A Stark Warning According to gold investor Peter Schiff, Bitcoin is “finally having its IPO moment.” He said that when veteran holders turn into sellers, supply at the top of....
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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....
Euro Pacific Precious Metals, one the world's largest gold and silver dealers by volume, announced today that it is accepting bitcoin through merchant bitcoin processor BitPay. Founded by famed financial personality Peter Schiff - host of popular financial radio show "The Peter Schiff Show" and a vocal detractor of bitcoin, the company's decision unsurprisingly reverberated throughout the bitcoin community, with many optimistic that Schiff had reversed his stance on digital currency. However, in an interview with CoinDesk, Schiff framed his company's move as more strategic to its business....
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....
After previously claiming that Elon Musk was too smart to buy bitcoin, Euro Pacific Capital CEO Peter Schiff is reacting angrily to reports that Tesla has acquired the cryptocurrency. In a series of tweets on February 8, Schiff now claims that Musk has no interest in bitcoin’s store of value credentials but is only interested in pumping the crypto. BTC Bias Allegations In its filing with the U.S. Securities and Exchange Commission (SEC), Tesla says it decided to acquire bitcoin because it fits with the company’s updated investment policy. According to the company, this new....
For years now the well known economist and gold bug Peter Schiff has continuously spoken out against bitcoin, as he claims precious metals are far superior. A great number of people have rebutted Schiff’s statements about bitcoin but during the last year, the gold bug has had a different thorn on his side. In recent days, Schiff’s nemesis on Twitter is his own son Spencer Schiff, a young entrepreneur who is “interested in finance, Austrian economics, libertarianism, [and] anarcho-capitalism.” Gold Bug vs. Bitcoin Bug During the last year, Bitcoin.com News has....