Frank Giustra, a prominent Canadian business mogul, mining financier, and philanthropist, has predicted that the treasury companies that borrowed money to buy Bitcoin will eventually face a financial squeeze. When they do, they will be forced to dump their massive holdings onto the market, causing a catastrophic price crash
“If the Bitcoin treasury companies get into trouble, there will be an unwinding, and Bitcoin will trade a lot lower,” Giustra wrote. “If I am wrong, it won’t change my life.”
The comments came during a heated exchange on X (formerly Twitter) late Thursday, sparked by a post from political commentator Bo Hines. The former White House advisor declared that “anyone bearish on Bitcoin heading into 2026 is foolish,” Giustra countered that caution is merely a defense against “gambling.”
The shares of Strategy, the leading Bitcoin treasury firm, got pummeled in 2025, plummeting by more than 50%. As reported by U.Today, Giustra previously slammed Strategy CEO Michael Saylor as a “Bitcoin charlatan.”
Bearish technicals loom over 2026
Giustra’s fundamental concerns align with emerging technical data, which could be interpreted as a rather bad omen for digital assets
Earlier today, Bloomberg Intelligence Senior Commodity Strategist Mike McGlone noted that Bitcoin is facing a “down year” based on its 50-week moving average.
This line represents the average price of the asset over the last year. He looks at how far above or below the current price is compared to this average.
Based on historical data, if Bitcoin trades at this specific discount, it is in danger of facing a much deeper drop. He forecasts a “lower trough near a 55% rebate.”
If McGlone is right and Bitcoin drops from $87,000 down to the “55% rebate” range (roughly $45,000 - $50,000), the treasury companies would see the value of their holdings plummet.
The Bloomberg analyst is also predicting a down year for silver. McGlone compares this to 1980, the famous Hunt Brothers silver bubble. When silver was this “stretched” in 1980, it crashed 52% that same year.
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