Peter Schiff, one of the most vocal Bitcoin detractors, has opined that mass redemptions from Bitcoin exchange-traded funds (ETFs) can be identified as the “biggest risk” for Saylor.
The financial commentator has predicted that mass redemptions would cause the price of the leading cryptocurrency to “go down a lot.” In such a case, Strategy (MSTR) shares would go down even more.
According to Schiff, ETF buyers are new to the space, meaning that many of them are not necessarily hardcore core believers.
“They bought as a trade, and may decide to cut their losses when it goes against them. Many are traders, no long-term holders,” he added.
As reported by U.Today, the price of Bitcoin collapsed to a multi-month low of $86,141 on Tuesday.
Meanwhile, the shares of MicroStrategy have plunged by more than 11%.
Schiff has slammed Saylor for “recklessly leveraging MSTR to the hilt.”
Source: https://u.today/schiff-names-big-risk-for-saylor