Grayscale Will Be Cashing Out Bitcoin To Get Back $250 Million Of Its Shares, Peter Schiff Believes

In one of his recent tweets, a rigorous Bitcoin opponent, CEO of Euro Pacific Capital, Peter Schiff, wrote that Grayscale is now likely to turn into a Bitcoin seller – just as he expected.

Digital Capital Group, spearheaded by Barry Silbert (who founded Grayscale), has recently announced that it intends to buy back up to $250 million of Grayscale's Bitcoin-based stocks (GBTC) - Grayscale's major and most popular ones.

Now, Schiff claims that his expectations are partly coming true. As the chief company Grayscale now wants to buy up a big lump of GBTC from circulation, Schiff claims it will have to start selling Bitcoin in order to find money for that purchase.

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