Peter Schiff Polls HODLers, Asks If They'll Sell If Bitcoin Slips Below $15K - Here's How They Responded
Portfolio Pulse from Aniket Verma
Economist Peter Schiff conducted a poll on X, asking Bitcoin HODLers if they would sell their holdings if Bitcoin's value dropped below $15,000. The majority (85.3%) said they would continue to hold. Schiff also questioned the existence of Bitcoin ETFs, noting net outflows of $77.97 million across 11 spot Bitcoin ETFs. The iShares Bitcoin Trust (NASDAQ:IBIT) saw inflows of $71.94 million, while the Grayscale Bitcoin Trust (NYSE:GBTC) experienced outflows of $27.31 million.
July 24, 2024 | 4:01 am
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POSITIVE IMPACT
The iShares Bitcoin Trust (NASDAQ:IBIT) saw inflows of $71.94 million despite overall net outflows in Bitcoin ETFs.
Despite the overall negative sentiment and net outflows in Bitcoin ETFs, IBIT managed to attract significant inflows, indicating investor confidence in this particular fund.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The Grayscale Bitcoin Trust (NYSE:GBTC) experienced outflows of $27.31 million amid overall net outflows in Bitcoin ETFs.
GBTC experienced significant outflows, reflecting a lack of investor confidence compared to other Bitcoin ETFs like IBIT, which saw inflows.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80