From Investing.com

August 2, 2024 4:00 pm:

MicroStrategy and BlackRock’s IBIT ETF collectively own 569,000 BTC, valued at $36 billion, with MicroStrategy holding 226,500 BTC ($15.06 billion) and IBIT ETF holding 343,387.46 BTC ($21.7 billion). Peter Schiff predicts possible forced selling of BTC by the companies due to creditor pressure.

Schiff believes MicroStrategy could be compelled to sell its crypto assets if facing creditor pressure. BlackRock’s IBIT ETF might also have to sell Bitcoin if investors rush to cut losses. Schiff maintains that BTC is worthless. Recent history shows how selling a large stake, like Germany’s $3 billion worth, can decrease prices by 20% in a month. The market impact of BlackRock and MicroStrategy selling their 12 times larger BTC holdings remains uncertain.

Read more at Investing.com: MicroStrategy and BlackRock Will Sell Their Bitcoin, Peter Schiff Believes By U.Today