Key Points:
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.
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
Parallel is a competitive, free sci-fi trading card game where players battle strategically with self-built…
Spot Bitcoin ETF inflow surged to $257 million on May 16, driven by positive sentiment…
Bitcoin supply on exchanges reaches new lows amid bullish market sentiment, signaling a move towards…
The Chainlink fund tokenization underscores the growing interest in asset tokenization, boosting Chainlink's price by…
The U.S. Senate voted 60-38 to overturn the SEC crypto asset accounting rule, easing restrictions…
Pyth grants $50 million, offering community, research, and developer grants, with rewards in unlocked or…
This website uses cookies.