Crypto:
30601
Bitcoin:
$58.859
% 2.57
BTC Dominance:
%53.3
% 0.09
Market Cap:
$2.13 T
% 0.20
Fear & Greed:
25 / 100
Bitcoin:
$ 58.859
BTC Dominance:
% 53.3
Market Cap:
$2.13 T

Bitcoin Bear Peter Schiff Warns of ETF Sell-Off: ‘Institutional Investors Will Dump’

Bitcoin Etfs

Bitcoin permabear Peter Schiff is back with another warning for Bitcoin investors. This time, Schiff is warning that institutional investors who buy Bitcoin ETFs will eventually sell them, driving the price down.

Schiff made his comments in a tweet on June 11. He said that Bitcoin proponents believe that institutional buying of Bitcoin ETFs will drive up the price. However, Schiff says that this is actually making the market more illiquid and volatile.

Schiff believes that institutional investors who buy Bitcoin ETFs are not planning to hold them forever. He says that they will eventually sell their coins, which will drive the price down.

Schiff says that spot Bitcoin investors are not thinking about selling in this way. He believes that many spot investors are planning to hold their Bitcoin until it replaces fiat currencies altogether.

Schiff’s latest warning comes as the price of Bitcoin has been struggling in recent weeks. The price of Bitcoin is currently down around 50% from its all-time high of $69,000, which it reached in November 2021.

It is unclear whether Schiff’s warning will come to pass. However, his comments are sure to be of interest to Bitcoin investors who are trying to make sense of the current market.

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