An ardent defender and investor of gold, Peter Schiff, said on Twitter that Bitcoin whales are now selling their coins, which are minted by weak hands. As weak hands, the investor named Grayscale-a Fund that invests in cryptocurrencies.
The main product of the Fund is the Grayscale Bitcoin Trust (GBTC). In his tweet, the investor stated that all” new ” Bitcoins after halving are sent for speculation with GBTC. And thus weak hands get coins.
It is because of such speculation that Peter believes that the price of Bitcoin after halving has not increased, but even falls lower.
A little earlier, Peter released a tweet in which he outlined his guesses about the price of Bitcoin. According to his observations, after the fall of Grayscale’s Ether Trust by 65%, the same fate awaits Grayscale’s Bitcoin Trust.
In the comments on Peter, as usual, joked. Users compared the dynamics of the growth of the Bitcoin exchange rate in the period since 2008. During this time, Bitcoin has grown from $1 to the current $9000, while gold, as it cost about $1700, has remained at the same values.
Over the past week, Grayscale Bitcoin Trust has fallen by more than 5%. The price movement correlates with Bitcoin itself, despite the fact that the prices for Grayscale Ethereum Trust and Ethereum itself were very different from each other.