Peter Schiff is an internationally recognized economist and strategist. The cryptocurrency skeptic believes that Elon Musk played a major role in propelling Bitcoin (BTC) to $70,000 in 2021. Find out how the Tesla boss would have managed such a feat back then.
Elon Musk is making BTC soar with just a photo
Peter Schiff has it Make a note Interesting about the rise of BTC in 2021. He said that the cryptocurrency managed to climb to $70,000 thanks to a post from Elon Musk. The latter is Photo posted in 2020 At the time BTC was trading around $10,000. At the time, the head of Tesla posted a tweet indicating that someone could not decide whether or not to invest in cheap cryptocurrency.
For a skeptical crypto strategist, it is funny to see Elon Musk posting the same picture now that BTC is trading at around $16,000. Additionally, on November 18, 2022, Shiv announce on Twitter: “Bitcoin is only down 1% today. The Grayscale Bitcoin Trust Index is down 7%. […] GBTC may have lost some or most of the Bitcoins. The market indicates a big problem. It is not good for bitcoin“.
this says, Schiff has a habit of making fun of Bitcoin’s price performance (BTC) in the market. He often compares the cryptocurrency to gold, suggesting that the latter is more valuable. It must be said that it has been easier lately for gold than bitcoin to maintain a positive market value. The leading cryptocurrency has also hit bottom this year.
For Peter Schiff, Bitcoin has no intrinsic value
The least we can say is that Peter Schiff is not a fan of cryptocurrency, let alone Bitcoin (BTC). He has it well prover During an interview in June 2022. He then announced: “You can’t do anything with bitcoins except keep them“.
Recently, the strategist reaffirmed his position on bitcoin. He said that encryption is doomed shame, indicating that it lacks intrinsic value. According to him, it cannot be a store of value or have any real-world use.
For Peter Schiff, Bitcoin has no real use for humanity, unlike cryptocurrencies like Ethereum. In fact, the strategist asserts that with its ecosystem the latter can succeed in making its place in the market.
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Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only fueled my enthusiasm. So I resolved to study and understand the blockchain and its many uses and pass on my pen information related to this ecosystem.