Peter Schiff Warns Of Market Instability Amid Bitcoin's Reliance On ETF Buyers: 'It Makes The Entire Market More Unstable'
Peter Schiff Warns Of Market Instability Amid Bitcoin's Reliance On ETF Buyers: 'It Makes The Entire Market More Unstable'
Renowned economist and staunch Bitcoin (CRYPTO: BTC) Peter Schiff has expressed concerns over the stability of the digital asset's market, attributing it to the potential influx of institutional ETF buyers.
著名經濟學家和堅定的比特幣（加密資產：BTC）支持者彼得·希夫特（Peter Schiff）表達了對數字資產市場穩定性的擔憂，將其歸因於機構ETF買家的潛在湧入。
What Happened: On Tuesday, Schiff took to X, formerly Twitter to voice his skepticism about Bitcoin's future. He argued that the reliance on institutional ETF buying to drive up Bitcoin prices could lead to market instability.
發生了什麼事：週二，希夫特在曾經的Twitter上表達了他對比特幣未來的懷疑。他認爲，依靠機構ETF購買來推動比特幣價格上漲可能導致市場不穩定。
"Bitcoin pumpers are counting on institutional ETF buying to drive higher prices. But this makes the entire market even more unstable, as all ETF buyers are future sellers," Schiff wrote.
“比特幣的炒作者指望機構ETF的買盤來推高價格。但這卻使整個市場更加不穩定，因爲所有ETF買家都是未來的賣家，”希夫特寫道。
#Bitcoin pumpers are counting on institutional ETF buying to drive higher prices. But this makes the entire market even more unstable, as all ETF buyers are future sellers. In contrast, many spot buyers intend to hold their Bitcoin until it ultimately replaces fiat currencies.
— Peter Schiff (@PeterSchiff) June 11, 2024
#比特幣的炒作者們指望機構ETF的買盤推高價格。但這將使整個市場更加不穩定，因爲所有ETF買家都是未來的賣家。相比之下，許多現貨買家打算持有他們的比特幣，直到最終替代法定貨幣爲止。
——彼得·希夫特（@PeterSchiff）2024年6月11日
He even contrasted the ETF buyers with spot buyers, stating that the latter cohort holds their Bitcoin "until it ultimately replaces fiat currencies." For those who're aware of Schiff's stance, the remark was more of a taunt directed towards the pro-Bitcoin crowd.
他甚至將ETF買家與現貨買家進行對比，指出後者持有他們的比特幣“直到最終替代法定貨幣爲止”。對於了解希夫特立場的人來說，這種言論更多是針對支持比特幣的人群的嘲笑。
Schiff's views were strongly challenged. Andrew Muniz responded, "Exactly wrong. On large, ETF buyers are not day-traders or swing-traders, whereas spot traders are. Another X user Bart Berg argued that buyers of any financial asset, including gold, are future sellers. "With that logic the market of anything is unstable," he added.
希夫特的觀點遭到了強烈挑戰。安德魯·繆尼茲回應道：“完全錯誤。在大多數情況下，ETF買家不是日內交易者或擺盪交易者，而現貨交易者是。另一位X用戶巴特伯格則認爲，包括黃金在內的任何金融資產的買家，都是未來的賣家。他補充道：“按照這種邏輯，任何東西的市場都是不穩定的。”
Why It Matters: This isn't the first time Schiff has expressed pessimism about Bitcoin's prospects. In May, he used the excitement around Ethereum (CRYPTO: ETH) spot ETF approvals to question the future of Bitcoin, suggesting that any funds used to buy new Ether ETFs would likely come from existing Bitcoin ETFs.
爲什麼重要：這不是希夫特第一次對比特幣前景表達悲觀情緒。今年5月，他利用以太坊（加密資產：ETH）現貨ETF獲批的熱情來質疑比特幣的未來，暗示購買新的以太ETF的任何資金都可能來自現有的比特幣ETF。
Earlier that month, Schiff had declared Bitcoin to be in a bear market, despite the hype around spot Bitcoin ETFs. He compared Bitcoin's performance to gold and pointed out that Bitcoin's previous support level of $60,000 now acts as resistance.
當月早些時候，儘管現貨比特幣ETF備受關注，希夫特宣佈比特幣處於熊市，並將比特幣的表現與黃金進行了比較，並指出比特幣之前的支撐位達到了60000美元，現在起到了壓力位的作用。
HIs remarks come as Bitcoin ETFs recorded outflows, snapping a 19-day winning streak, according to SoSo Value.
他的言論發佈之際，比特幣ETF錄得大規模流出，終結了19天的連漲，根據SoSo Value的數據。
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
免責聲明：本文部分內容使用了Benzinga Neuro的幫助。此內容部分由Benzinga Neuro幫助製作，並由Benzinga編輯審核併發布。
譯文內容由第三人軟體翻譯。