Peter Schiff Raises Concerns about Bitcoin Liquidation Risks during Economic Downturn

Economist and gold advocate Peter Schiff warns against potential risks for Bitcoin holders facing an economic downturn. He points out that many investors are utilizing their cryptocurrency as collateral to access loans, allowing them to purchase additional assets or maintain current lifestyles without selling their Bitcoin holdings. Should a significant market decline occur, these assets could be liquidated at lower prices, potentially deepening the losses. Schiff also highlights another concern: difficulty for individuals in securing sufficient funds to cover their tax liabilities during this economic period.