[Peter Schiff said he does not own any Bitcoin]
Peter Schiff recently reiterated that he does not own any Bitcoin, countering widespread market speculation. Schiff has been outspoken about his views on Bitcoin, often comparing it to traditional assets such as gold and emphasizing his distrust of the cryptocurrency's value. He described the market's enthusiasm for Bitcoin as "alcoholic Kool-Aid" and compared Bitcoin to "the emperor's new clothes", believing that its value mostly comes from collective fantasy rather than actual value.
Schiff has commented on the launch of the Bitcoin ETF, noting that the initial price increase was due to strong buyer interest, but predicted that as more investors enter the market, the increase in potential sellers will drive the price down. This view reflects his doubts about the sustainability of the Bitcoin market.
Some critics believe that Schiff’s criticism of Bitcoin is part of his personal branding strategy, and even speculate that he may secretly hold Bitcoin, using public criticism to attract attention to preferred investments such as gold. This speculation suggests that Schiff's attitude may have been calculated to maintain influence on social media.
Whether Schiff's stance was a marketing ploy or genuine opinion, his comments sparked widespread discussion. He has correctly predicted the direction of the Bitcoin market many times, and although he predicted that Bitcoin would fall to new lows, the price of Bitcoin unexpectedly surged to a new all-time high.
