Canadian mining billionaire Frank Gistra warns that corporate-held Bitcoin is like a "time bomb." He predicts that once the overall market crashes and forces companies to liquidate their Bitcoin holdings to cover losses, a massive sell-off will occur. He dismisses the Winklevoss brothers' prediction that Bitcoin will reach million dollars, calling it a "shameless" trick to lure retail investors, and states that he "no longer has money" to buy Bitcoin. Despite Gistra's pessimistic outlook, he admits that "perhaps at some point, he will consider buying."
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Canadian mining billionaire Frank Gistra warns that corporate-held Bitcoin is like a "time bomb." He predicts that once the overall market crashes and forces companies to liquidate their Bitcoin holdings to cover losses, a massive sell-off will occur. He dismisses the Winklevoss brothers' prediction that Bitcoin will reach million dollars, calling it a "shameless" trick to lure retail investors, and states that he "no longer has money" to buy Bitcoin. Despite Gistra's pessimistic outlook, he admits that "perhaps at some point, he will consider buying."