Bitcoin Opponent Schiff: "Told You Not to Buy, So You Bought More… I’m the No.1 Promoter of BTC"
Summary
- Peter Schiff stated that every time he said not to buy Bitcoin, investors ended up buying more.
- He revealed that his warnings actually drove more Bitcoin purchases.
- Schiff argued that Bitcoin is structured so wealth shifts from later investors to early adopters.
Peter Schiff, known as a prominent opponent of Bitcoin (BTC), once again displayed his reputation as a "Bitcoin hater." This time, he made a self-deprecating remark, saying, "I’ve contributed the most to Bitcoin’s adoption."
According to the crypto-specialized media outlet Coinpedia on the 29th, Schiff, right after the 'Bitcoin 2025' conference in Las Vegas, stated on X (formerly Twitter), "Every time I tell you not to buy Bitcoin, you buy even more," adding, "In the end, I’ve led more people to buy Bitcoin than anyone else."
He added that while he often hears that many people have lost out because he didn’t recommend buying Bitcoin, he actually thinks his warnings have caused even more people to buy it. He also noted that attendees at the event shared this firsthand.
Furthermore, he argued, "Bitcoin is a massive cult, and it’s just a structure where wealth is transferred from later investors to early buyers."
Meanwhile, Schiff has been recognized as a prominent critic who has called Bitcoin a bubble for over a decade.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
