As reported by CoinRepublic, the US Spot Bitcoin ETF showed mixed signals following Michael Saylor and Strategy CEO Phong Le’s announcement of a $1.44 billion reserve. BlackRock was the sole seller in BTC ETFs, while Fidelity offset the sell-off with a $67 million purchase. Peter Schiff, Chief Economist at Euro Pacific, criticized Strategy’s business model, calling it a 'Ponzi scheme' and labeling Saylor a 'conman.' The duo revised their Bitcoin price estimates downward, now expecting a range of $85,000 to $100,000 by year-end, down from an earlier $150,000 target. Strategy emphasized the new reserve would strengthen its dividend-paying capacity and creditworthiness. ETH and Solana ETFs also saw significant outflows, while XRP ETFs continued a 11-day inflow streak.
Bitcoin ETF Shows Mixed Signals After Michael Saylor’s Announcement
The Coin RepublicShare
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