Canadian mining billionaire Frank Gistra warns that corporate-held Bitcoin is like a "time bomb," predicting that once the overall market crashes and forces companies to liquidate their Bitcoin holdings to cover losses, there will be a massive sell-off. He dismissed the Winklevoss brothers' prediction that Bitcoin will reach million dollars, calling it a "shameless" trick to deceive retail investors, and stated 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," predicting that once the overall market crashes and forces companies to liquidate their Bitcoin holdings to cover losses, there will be a massive sell-off. He dismissed the Winklevoss brothers' prediction that Bitcoin will reach million dollars, calling it a "shameless" trick to deceive retail investors, and stated 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."