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Peter Schiff: Bitcoin spot ETF fund outflows will put Bitcoin under huge downward pressure
2024-05-12 07:14
Odaily News Gold advocate and economist Peter Schiff expects explosive gains in gold and silver prices, encouraging investors to "take advantage of what could be the biggest bull run in precious metals in history." Peter Schiff also reiterated his pessimistic view on Bitcoin. He said: "Bitcoin is dead money. Sell it before it is buried. When the Bitcoin (spot) ETF was launched four months ago, there were no sellers, only buyers. But now that many investors hold these ETFs, there is a large supply of potential sellers. But as new buyer demand decreases, ETF outflows will soon put huge downward pressure on Bitcoin." (Bitcoin.com)