Summary
- Peter Schiff said he criticized mainstream financial media for portraying Bitcoin’s 50% decline as a buying opportunity.
- He said he argued for selling, citing the risk of further losses in Bitcoin’s price.
- Schiff emphasized that, in his view, the real opportunity is to sell Bitcoin before additional losses materialize.
Peter Schiff, known as a Bitcoin (BTC) skeptic, criticized recent mainstream media coverage surrounding the sharp drop in Bitcoin. Citing the risk of further losses, he argued for selling.
On the 11th (local time), Schiff wrote on his X (formerly Twitter) account, “Biased mainstream financial media that doesn’t properly understand the situation is portraying Bitcoin’s ‘unexpected’ 50% decline as yet another buying opportunity.”
He added, “The real opportunity is to sell before additional losses occur.” Schiff, a prominent gold bull, has long maintained a skeptical stance toward Bitcoin.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
