According to U.Today, well-known Bitcoin critic Peter Schiff refuted the claim that the next wave of capital influx into the BTC ecosystem will come from Wall Street investors.

In response to CNBC Squawk Box interview with Bitcoin bull Anthony Pompliano, Peter Schiff pointed out that in fact, investors in the United States are planning the opposite action. Since the U.S. Securities and Exchange Commission (SEC) approved the Bitcoin spot ETF in January this year, there has been a large influx of capital in the industry. This capital is usually channeled through bets on ETF products of companies such as BlackRock, Fidelity Investments and Bitwise.

While Pompliano is optimistic about future trends, Peter Schiff dispelled that sentiment. He believes that Wall Street investors are about to sell off. Peter Schiff said that the possible sell-off by corporate investors is a clear sign of an impending market crash. Although Peter Schiff and other top Bitcoin critics firmly believe that the price of Bitcoin will eventually return to zero, the upcoming BTC halving event has others believing that the price may continue to rise.