{"id":93330,"date":"2026-01-20T13:55:35","date_gmt":"2026-01-20T10:55:35","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=93330"},"modified":"2026-01-20T14:15:43","modified_gmt":"2026-01-20T11:15:43","slug":"billionaire-calls-bitcoin-an-easy-target-for-confiscation","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/billionaire-calls-bitcoin-an-easy-target-for-confiscation\/","title":{"rendered":"Billionaire Calls Bitcoin an Easy Target for Confiscation"},"content":{"rendered":"<p>Canadian billionaire Frank Giustra questioned the first cryptocurrency\u2019s status as a haven. He argued the coin is far easier to confiscate than precious metals, making digital-asset investing risky.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin much easier to confiscate than gold. Witness the much hyped Government Bitcoin Reserve- it\u2019s made up solely of seized BTC . That alone should give investors pause. BTC purchases much easier to trace \u2026 when governments get desperate, they choose path of least resistance<\/p>\n<p>\u2014 Frank Giustra (@Frank_Giustra) <a href=\"https:\/\/twitter.com\/Frank_Giustra\/status\/2013205116849954854?ref_src=twsrc%5Etfw\">January 19, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cLook at the much-hyped government bitcoin reserve \u2014 it consists entirely of seized coins. That alone should give investors pause. Transactions are easy to trace, and when governments are desperate, they choose the path of least resistance,\u201d the businessman wrote.<\/em><\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Shifting narratives and a critique of FOMO<\/h2>\n<p>The billionaire recalled a debate with the founder of Strategy <a href=\"https:\/\/forklog.com\/en\/news\/michael-saylor-the-microstrategy-founders-biography-and-views\">Michael Saylor<\/a> five years ago. Giustra stressed that his criticism is aimed not at the technology but at the promotion of the asset, built on greed and <span data-descr=\"fear of missing out\" class=\"old_tooltip\">FOMO<\/span>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The debate almost 5 years ago. Watch to very end and the only real point I was making about Saylor\u2019s promotional style-<a href=\"https:\/\/t.co\/qlinNV5rab\">https:\/\/t.co\/qlinNV5rab<\/a> <a href=\"https:\/\/t.co\/zcivZGpHMl\">https:\/\/t.co\/zcivZGpHMl<\/a><\/p>\n<p>\u2014 Frank Giustra (@Frank_Giustra) <a href=\"https:\/\/twitter.com\/Frank_Giustra\/status\/2012813497940287553?ref_src=twsrc%5Etfw\">January 18, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The investor pointed to the constant shifting narratives around the first cryptocurrency due to an \u201cidentity crisis\u201d:<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>means of payment:<\/strong> the idea faltered amid rising fees and low speed;<\/li>\n<li><strong>hedge:<\/strong> during the inflation spike the price fell from $69,000 to $16,000;<\/li>\n<li><strong>digital gold:<\/strong> Giustra considers this claim refuted by current market conditions.<\/li>\n<\/ul>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cToday is a perfect example of why bitcoin is not gold. Amid uncertainty around Greenland, the metal jumped sharply while the cryptocurrency fell by the same percentage. One asset is a \u2018safe haven\u2019, the other is a risk-on instrument,\u201d he noted in a discussion with a user called Lucas.<\/em><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Today is a perfect example of why Bitcoin is not gold. With all the Greenland uncertainty, gold is up sharply and Bitcoin is down the same %. Numerous examples in the past. One is a safe haven and the other is a risk-on asset. The facts on this are clear &#038; indisputable.<\/p>\n<p>\u2014 Frank Giustra (@Frank_Giustra) <a href=\"https:\/\/twitter.com\/Frank_Giustra\/status\/2013141706498060460?ref_src=twsrc%5Etfw\">January 19, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 class=\"wp-block-heading\">Grievances with bitcoin maximalists<\/h2>\n<p>Separately, Giustra published an article detailing risks for \u201cunsophisticated investors\u201d. He condemned Saylor\u2019s calls to mortgage real estate to buy crypto, calling it a recipe for financial ruin.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Read my latest article- \u201cI have nothing against Bitcoin. It\u2019s a fascinating experiment, a volatile speculative asset and, for some, a lucrative trade. I do have a beef, however, with the Bitcoin maximalists\u201d subscribe to <a href=\"https:\/\/t.co\/KURLp7Xy93\">https:\/\/t.co\/KURLp7Xy93<\/a> <a href=\"https:\/\/t.co\/vekmjm0Umz\">https:\/\/t.co\/vekmjm0Umz<\/a><\/p>\n<p>\u2014 Frank Giustra (@Frank_Giustra) <a href=\"https:\/\/twitter.com\/Frank_Giustra\/status\/2010177589768290688?ref_src=twsrc%5Etfw\">January 11, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The billionaire also pointed to market-structure issues:<\/p>\n<ul class=\"wp-block-list\">\n<li>inflows into spot <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a> have slowed;<\/li>\n<li>shares of <span data-descr=\"public companies with cryptocurrency reserves\" class=\"old_tooltip\">DAT<\/span> companies, including Strategy, trade below net asset value;<\/li>\n<li>high leverage at such firms raises the risk of cascading sell-offs.<\/li>\n<\/ul>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cIt looks like a game of musical chairs among big buyers. Every rich person is glancing around nervously, guessing who will exit first, before the music stops,\u201d Giustra added.<\/em><\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Solidarity among \u2018gold bugs\u2019<\/h2>\n<p>The billionaire\u2019s position echoes that of gold advocate Peter Schiff. The economist said bitcoin\u2019s inability to rise alongside precious metals undermines its reputation.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Everyone expects Bitcoin to follow gold\u2019s lead and rally to new highs. But the market has given speculators way too much time to buy. What\u2019s far more likely is that Bitcoin\u2019s failure to match gold\u2019s gains undermines its narrative as digital gold, resulting in a spectacular crash.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/2013039366579384442?ref_src=twsrc%5Etfw\">January 19, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Schiff warned of a likely plunge in the digital asset\u2019s price due to speculators\u2019 disappointment.<\/p>\n<p>Market participants also expressed concern over Saylor\u2019s silence. After hinting at coin purchases on January 18, he stopped posting updates on the topic, which investors took as a troubling signal.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bigger Red. <a href=\"https:\/\/t.co\/IUfIdOIWEd\">pic.twitter.com\/IUfIdOIWEd<\/a><\/p>\n<p>\u2014 Caramel (@CaramelCoffee8) <a href=\"https:\/\/twitter.com\/CaramelCoffee8\/status\/2012906069534642534?ref_src=twsrc%5Etfw\">January 18, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, ARK Invest CEO <a href=\"https:\/\/forklog.com\/en\/news\/who-is-cathie-wood-and-how-does-she-promote-bitcoin\">Cathie Wood<\/a> said that mathematically limited issuance makes the first cryptocurrency a more perfect scarce asset than gold.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canadian billionaire Frank Giustra questioned bitcoin\u2019s haven status, arguing it is far easier to confiscate than gold.<\/p>\n","protected":false},"author":1,"featured_media":93331,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Giustra says bitcoin is easier to confiscate than gold, undermining its haven claims.","creation_source":"ai_translated","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,536,1208,1138,1298],"class_list":["post-93330","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-gold","tag-michael-saylor","tag-opinions","tag-peter-schiff"],"aioseo_notices":[],"amp_enabled":true,"views":"148","promo_type":"1","layout_type":"1","short_excerpt":"Giustra says bitcoin is easier to confiscate than gold, undermining its haven claims.","is_update":"0","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/93330","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=93330"}],"version-history":[{"count":2,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/93330\/revisions"}],"predecessor-version":[{"id":93335,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/93330\/revisions\/93335"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/93331"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=93330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=93330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=93330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}