U.Today – Yesterday, MicroStrategy announced the purchase of an additional 169 BTC over the past month. Now, according to the latest data, MicroStrategy and the BlackRock (NYSE:) ETF, IBIT, collectively hold about 569,000 BTC, which is about $36 billion.
As of today, MicroStrategy holds 226,500 BTC, which is about $15.06 billion. For comparison, IBIT ETF holds 343,387.46 BTC, which is about $21.7 billion.
Peter Schiff, a well-known crypto skeptic, has shared his thoughts on the two market giants’ vast Bitcoin (BTC) holdings. Schiff suggests that it’s possible that the companies will have to sell their BTC bags.
What if?
The up-to-date post suggests that MicroStrategy may be under pressure from creditors who could force the company to sell its crypto assets. Schiff says that BlackRock’s IBIT ETF could be forced to sell Bitcoin if its investors decide to get out of it to limit losses.
According to Schiff, these losses are inevitable because, according to the expert, BTC has no value.
What happens on the market when someone decides to sell a vast block of shares could be seen a few weeks earlier in Germany. By selling a block of shares worth $3 billion, one of the country’s administrative bodies managed to reduce the price by 20% in a month.
It is unclear what will happen if Schiff’s prediction turns out to be true and BlackRock and MicroStrategy decide to sell their bitcoin holdings, which are 12 times larger than Germany’s.
