Peter Schiff has warned that bitcoin may not rise when other financial assets rebound even though the crypto fell alongside them. $BTC cryptocurrency
Economist Peter Schiff Warns Bitcoin May Not Rise When Other Financial Assets Rebound
The fact that bitcoin fell along with financial assets doesn’t mean that it will rise once those markets turn. The economist also believes that bitcoin is not scarce despite the cryptocurrency’s 21 million supply cap. Responding to a tweet Tuesday stating thatBitcoin is hardly scarce and in no way desirable. If you want to lose your money there are plenty of ways to do it. You don’t need to buy bitcoin.
Schiff is the founder and current chairman of Schiffgold, a precious metals dealer specializing in gold and silver bullion. He has long been a bitcoin skeptic, regularly bashing the crypto while promoting gold., Schiff tweeted Monday:
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