“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.

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He 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.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.