The popular gold bug continues with his barrage against bitcoin, but his latest warning came amid times of price resurgence as the cryptocurrency skyrocketed above $70,000.
Schiff actually thinks that a lot of bad news will hit BTC if the US Securities and Exchange Commission indeed greenlights spot Ethereum ETFs.
Schiff Goes After Bitcoin Again
Spot ETFs became the main news in the cryptocurrency industry this year after the US SEC approved almost a dozen such BTC products in mid-January after a decade of rejecting or delaying all applications. Other countries and special territories like Hong Kong followed suit, but the US remains the biggest market; hence, all eyes are on the regulatory agency to see whether another asset will receive such a validation.
Being the second-largest cryptocurrency by market cap, Ethereum is, expectedly, at the forefront of this trend. However, the Commission has already delayed making a decision on several ETH ETF applications this year, and the chances
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