'I Would've Loaded up Bitcoin': Peter Schiff Admits He Would Have Bought BTC

U.Today - Prominent gold advocate and crypto critic Peter Schiff has once again shared his thoughts on Bitcoin (BTC). In his latest episode, he suggested an unexpected retrospective willingness to invest in the cryptocurrency's early days.

Known for his vocal criticism of digital assets, Schiff has said that Bitcoin and the broader blockchain ecosystem may ultimately be remembered as one of the greatest misallocations of resources in modern financial history.

However, if he had known how big Bitcoin would become, he might have "loaded up on it," the crypto-skeptic admitted.

Well, that did not happen in 2011, when Bitcoin was last seen at $1, and the cryptocurrency made its way to nearly $90,000 without Peter Schiff onboard. For now, the banker remains convinced that BTC is a bubble, and when it bursts, it will not just affect individual speculators; it will also affect those who have financed infrastructure and companies in the crypto sector.

Bitcoin vs. silverMore to the point, Peter Schiff then explained how the recent rise in Bitcoin has affected traditional assets like gold and silver as, with so much interest in Bitcoin ETFs and related stocks, silver has held its own against falling gold prices.

He noted that silver's decline was relatively small, especially on a day when gold saw a significant drop.

In addition, Schiff noted that Bitcoin's market value has once again surpassed that of silver, but the balance could shift in favor of precious metals if dynamics of cryptocurrency prove to be nothing more than "pump and dump."

Source: Investing.com

Publicații recente
Floki’s Valhalla Partners with Dubai’s Mall of the Emirates for Landmark Campaign
13.11.2024 - 21:00
XRP Skyrockets 109% in Volume, 415% Profit Triggers Epic SHIB Trillionaire Awakening, $200,000 for Bitcoin Reality Now: Crypto News Digest by U.Today
13.11.2024 - 21:00
Bitcoin price today: hits new high near $91k as Trump rally marches on
13.11.2024 - 17:00
Investment Giant VanEck Launches SUI-based Financial Product
13.11.2024 - 16:00
Peter Brandt Spotlights Bitcoin and Dogecoin Correlation
13.11.2024 - 15:00
Bybit P2P Block Trading Blast: Up to 200 USDT in Rewards
13.11.2024 - 13:00
Litecoin Falls 11% In Bearish Trade
13.11.2024 - 10:00
Bitcoin price today: down to $87k as Trump rally cools, Doge falls from 3-yr high
13.11.2024 - 07:00
XRP Reversal Can End Here, Bitcoin (BTC) Sets Sights on $200,000, Dogecoin (DOGE) Skyrockets by $30 Billion in 7 Days
13.11.2024 - 05:00
Ex-Binance CZ Breaks Silence on New Bitcoin ATH: "Blame Yourself"
12.11.2024 - 21:00
MicroStrategy's Saylor Reacts to Bitcoin Skyrocketing, Sensational 21 Trillion Shiba Inu in 24 Hours, XRP and ADA ETF Filings Predicted by Top Analyst: Crypto News Digest by U.Today
12.11.2024 - 20:00
Investing.com poll: Can Bitcoin hit $100,000 by the end of 2025?
12.11.2024 - 20:00
Ancient Bitcoin Whale Back to Life After 11 Years With Massive 26,147% Gains
12.11.2024 - 20:00
Anthony Scaramucci to Late Bitcoin Buyers: 'It's Early'
12.11.2024 - 19:00
'I Would've Loaded up Bitcoin': Peter Schiff Admits He Would Have Bought BTC
12.11.2024 - 18:00

© Analytic DC. All Rights Reserved.

new
Analiza pieței Cum va afecta raportul NFP de mâine cursul de schimb al dolarului american?