Bitcoin ETF

Bitcoin

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
The price of Bitcoin (BTC), the leading cryptocurrency by market cap, has plunged by more than 10% since former MicroStrategy CEO Michael Saylor <a href="https://x.com/saylor/status/1831680748744581272">posted</a> a bizarre picture of him riding a Bitcoin surfboard in a business suit.&nbsp;
The price of the largest cryptocurrency recently collapsed all the way to $53,661.&nbsp;
Earlier today, the price of the leading cryptocurrency briefly came close to the $57,000 level following a US jobs report that managed to alleviate recession concerns. However, Bitcoin then erased its short-lived gains and dropped sharply lower in tandem with US stocks.&nbsp;
Saylor, whose firm holds a total of $12.1 billion worth of Bitcoin, is yet to comment on the devastating Bitcoin crash.&nbsp;
It is worth noting that September tends to be the worst-performing month for the largest cryptocurrency. So far, Bitcoin is already down 8% during this September. In 2019, for comparison, it declined by nearly 14%.&nbsp;&nbsp;&nbsp;
<h2 id="schiff-s-prescient-call">Schiff's prescient call&nbsp;</h2>
On Thursday, gold bug Peter Schiff&nbsp;<a href="https://x.com/PeterSchiff/status/1831727407960588458">mocked</a> Saylor's bizarre AI-generated picture, arguing that the Bitcoin wave "had already broken."&nbsp;
Schiff urged Saylor to "catch the Bitcoin wave," which was in the process of "swelling."&nbsp;
Prior to that, the prominent financial commentator also slammed Bitcoin ETF investors for betting on the wrong horse. He&nbsp;<a href="https://x.com/PeterSchiff/status/1831695648661422307">pointed</a> to the fact that these products were up only 17% despite massive inflows. For comparison, gold ETFs are up by more than 24%.
As <a href="https://u.today/peter-schiff-predicts-bitcoin-btc-price-will-crash-to-20k">reported by U.Today</a>, Schiff recently predicted that the Bitcoin price could eventually crash all the way to the $20,000 level. &nbsp;
The recent prescient prediction, of course, does not change the fact that Schiff has an awful track record when it comes to Bitcoin. The gold bug has been bearish on the largest cryptocurrency since 2011. &nbsp;

Bitcoin (BTC) Down 10% Since This Bizarre Michael Saylor Post

Table of Contents

U_Today

Other articles published on Sep 6, 2024

Saviour Musk Solana Memecoin Will Explode 19,000% Before Exchange Listing, As SHIB and Dogecoin Lag

BabyDoge Renounces Token Contracts on Ethereum and BNB Chain

Bitcoin Exchange OKX Announces It Has Delisted Numerous Altcoin Trading Pairs!

Sui Network Announces the Launch of AUSD Stablecoin

Bitcoin at Risk of Crashing Below $50,000 Despite Interest Rate Cuts

Tron Protocol Generated $1.57B Revenue in 365 Days, Aiming for $3B

Join our free newsletter for daily crypto updates!