Canadian billionaire Frank Giustra warns that Bitcoin may experience a drastic decline if treasury companies that invested in it face financial difficulties. He highlights the risk that these firms will panic-sell their Bitcoin, resulting in a significant price crash.
Giustra’s concerns are supported by Bloomberg’s Mike McGlone, who forecasts Bitcoin could drop to between 45,000 USD and 50,000 USD, given current technical indicators. He notes that shares of top Bitcoin treasury firm Strategy fell over 50% this year, reflecting sector distress.
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