5min snip

Wealthion - Be Financially Resilient cover image

Peter Schiff’s Bold Take on Bitcoin & Why Gold Will Crush It Over Time

Wealthion - Be Financially Resilient

ANECDOTE

Peter Schiff's Bitcoin Regret

  • Peter Schiff admits to regretting not buying Bitcoin when it was around $1, acknowledging he'd be a multi-billionaire if he had.
  • Despite this regret, he maintains his skepticism about Bitcoin's long-term value, attributing its recent price surge to ETFs, MicroStrategy's buying spree, and political pandering.
  • He criticizes the proposed strategic Bitcoin reserve and reiterates his belief that Bitcoin is a bubble, disagreeing with Jerome Powell's comparison of Bitcoin to gold.
  • Schiff notes that many people, including his neighbors in Puerto Rico, have profited from Bitcoin, often teasing him about his missed opportunity.
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