Peter Schiff: "Bitcoin Rise Occurs at the Expense of Buyers… Will Return as Social Harm"
YM Lee
Summary
- Peter Schiff stated that the rise of Bitcoin occurred at the expense of buyers.
- He revealed that many investors are cashing in substantial profits.
- Peter Schiff emphasized that this situation will return as harm to society.
Prominent cryptocurrency skeptic and gold advocate Peter Schiff has expressed a negative view on the rise of Bitcoin.
On the 5th (local time), Peter Schiff stated on his X (Twitter) that "Many investors are cashing in substantial profits due to the rise in Bitcoin. This occurs at the expense of buyers, and greater losses will result in social harm as capital is wasted in this situation," he emphasized.
Peter Schiff predicted in 2019 that Bitcoin would never reach $100,000, but today his prediction was broken after just five years.
YM Lee
20min@bloomingbit.ioCrypto Chatterbox_ tlg@Bloomingbit_YMLEE
