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News

Crypto Critic Peter Schiff Says Bitcoin Will Drop To $5000 By 2023

December 30, 2022 - Around 2 mins mins to read

Key Points:

  • According to Peter Schiff, Bitcoin holders’ confidence will be undermined in 2023.
  • According to him, Bitcoin will drop below $5000 in the upcoming year, which would cause investors to lose faith in the currency.
  • Peter Schiff urged cryptocurrency holders to sell their holdings and use the proceeds to buy physical gold.
According to Peter Schiff, who just posted on Twitter, Bitcoin (BTC) holders’ confidence will be undermined in 2023. The well-known economist and cryptocurrency skeptic Schiff has criticized cryptocurrencies.
Crypto Critic Peter Schiff Says Bitcoin Will Drop To $5000 By 2023

In a tweet, Schiff stated that supporters of Bitcoin believe that the value of the digital currency will increase in 2023. According to him, Bitcoin will drop below $5000 in the upcoming year, which would cause investors to lose faith in the currency.

Peter Schiff, a well-known opponent of Bitcoin, urged cryptocurrency holders to sell their holdings and use the proceeds to buy physical gold in a Thursday interview with TD Ameritrade Network before they lose everything.

“My advice to people in crypto is get out. You could still get almost 17000 for your worthless Bitcoin. I would suggest that take it and buy some gold,” he said.

He asserts that anyone looking to invest in Bitcoin as a long-term value store or inflation hedge should not do so. Without a doubt, Peter Schiff, who frequently criticizes investment choices, is the most vocal opponent of the most well-liked digital currency.

Crypto Critic Peter Schiff Says Bitcoin Will Drop To $5000 By 2023

He also made fun of Saylor. He reiterated that Chairman Michael Saylor’s obsession with Bitcoin would be held accountable to MicroStrategy Incorporated’s stockholders. Schiff remarked on Twitter that the stock of the company had dropped to a 52-week low and was down a startling 90% from its all-time high, which was in February 2021.

Peter Schiff has consistently expressed his strong opposition to Bitcoin and other cryptocurrencies, citing their excessive volatility and lack of intrinsic value as his main worries. According to Schiff, gold is a far safer, more dependable long-term store of value and has a higher potential for dependable future increases.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

BTC

crypto

Michael Saylor

MicroStrategy

Peter Schiff

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Crypto Critic Peter Schiff Says Bitcoin Will Drop To $5000 By 2023

Key Points:

  • According to Peter Schiff, Bitcoin holders’ confidence will be undermined in 2023.
  • According to him, Bitcoin will drop below $5000 in the upcoming year, which would cause investors to lose faith in the currency.
  • Peter Schiff urged cryptocurrency holders to sell their holdings and use the proceeds to buy physical gold.
According to Peter Schiff, who just posted on Twitter, Bitcoin (BTC) holders’ confidence will be undermined in 2023. The well-known economist and cryptocurrency skeptic Schiff has criticized cryptocurrencies.
Crypto Critic Peter Schiff Says Bitcoin Will Drop To $5000 By 2023

In a tweet, Schiff stated that supporters of Bitcoin believe that the value of the digital currency will increase in 2023. According to him, Bitcoin will drop below $5000 in the upcoming year, which would cause investors to lose faith in the currency.

Peter Schiff, a well-known opponent of Bitcoin, urged cryptocurrency holders to sell their holdings and use the proceeds to buy physical gold in a Thursday interview with TD Ameritrade Network before they lose everything.

“My advice to people in crypto is get out. You could still get almost 17000 for your worthless Bitcoin. I would suggest that take it and buy some gold,” he said.

He asserts that anyone looking to invest in Bitcoin as a long-term value store or inflation hedge should not do so. Without a doubt, Peter Schiff, who frequently criticizes investment choices, is the most vocal opponent of the most well-liked digital currency.

Crypto Critic Peter Schiff Says Bitcoin Will Drop To $5000 By 2023

He also made fun of Saylor. He reiterated that Chairman Michael Saylor’s obsession with Bitcoin would be held accountable to MicroStrategy Incorporated’s stockholders. Schiff remarked on Twitter that the stock of the company had dropped to a 52-week low and was down a startling 90% from its all-time high, which was in February 2021.

Peter Schiff has consistently expressed his strong opposition to Bitcoin and other cryptocurrencies, citing their excessive volatility and lack of intrinsic value as his main worries. According to Schiff, gold is a far safer, more dependable long-term store of value and has a higher potential for dependable future increases.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News