WGMI - Peter Schiff Challenges Bitcoin's $100K Prediction As Crypto-Linked Stocks Languish In Bear Zone: 'Sell Your Fool's Gold And Buy The Real Thing' | Benzinga
Bitcoin (CRYPTO: BTC), although recovering from Saturday’s lows, settled in the red on Monday, as it pulled back below the $63,500 mark. Amid the volatility, economist and crypto skeptic Peter Schiff expressed skepticism regarding the apex crypto blasting off in line with predictions by some bulls.
What Happened: “If #BitcoinETFs are really going to send #Bitcoin to $100K or higher, why are all the Bitcoin-related equities in bear markets?” he said in a post on X, formerly Twitter. A financial asset is said to be in a bear market if it falls more than 20% from a recent high.
Schiff highlighted the down move in the following crypto-linked stocks.
- Cryptocurrency exchange Coinbase Global, Inc. (NASDAQ:COIN): down 21% [from March 27]
- Crypto-specific venture capital investment firm Galaxy Digital Holdings Ltd. (OTC:BRPHF): down 26% [from March 26]
- MicroStrategy, Inc. (NASDAQ:MSTR), which has substantial holdings of Bitcoin: down 33% [from March 27]
- Valkyrie Bitcoin Miners ...