Bitcoin Critic Peter Schiff Issues a Call to Crypto Holders
Economist Peter Schiff, known for his anti-cryptocurrency views, called for investors to sell Bitcoin, calling for it to trade at $100,000 as “an opportunity not to be missed.”
Schiff argued that the current price is not sustainable in the long term, that these levels may not be seen again in a lifetime, and argued that Bitcoin holders should sell without delay.
Schiff's statements quickly sparked controversy on social media, with some users reminding them that the economist had issued similar warnings 12 years ago when BTC surged to $1,000.
Among the criticisms leveled at Schiff was the question, “If $100,000 is a historic opportunity, why are you recommending a sell?” Schiff responded by saying that Bitcoin might never surpass $100,000 again due to an impending price drop.
Schiff has long been known as a staunch gold advocate, citing the BTC price's underperformance of gold following its recent rally.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
YFI Gains 0.38% Over 24 Hours Despite Year-Long Downtrend
- YFI rose 0.38% in 24 hours to $4768, contrasting a 40.84% annual decline and 5.56% weekly drop. - Analysts highlight need for improved utility/adoption to reverse long-term bearish trends despite short-term resilience. - Technical indicators show no strong reversal patterns, with bearish pressure dominating despite 1-month 0.45% recovery. - Mixed performance reflects complex market dynamics between temporary buying interest and structural bear market challenges.
Bitcoin News Update: Hyperliquid's BTC Short Balances on Edge: $17 Million Profit Nears as $111,000 Liquidation Threatens
- Hyperliquid's largest BTC short holds $17M unrealized gains, risking liquidation above $111,770 amid volatile $106K price. - 20x leveraged position shows 4.86% profit from $111K entry, with 55% of platform's $5.3B total positions in shorts. - $30M POPCAT manipulation incident exposed liquidity risks, causing $63M liquidations and $4.9M HLP losses. - BTC faces bearish pressure below $101K despite 15/1 technical buy signals, as ETF inflows revive institutional demand.
Bitcoin News Today: Bitcoin’s Recent Decline Ignites Discussion: Is This a Temporary Correction or the Start of a Larger Downtrend?
- Bitcoin long-term holders offloaded 815,000 BTC in 30 days, pushing price below $100,000 and triggering $683M liquidations. - Analysts link the selling to profit-taking after prolonged rallies, with open interest dropping 27% to $68.37B as demand remains subdued. - Market debates whether this marks a mid-cycle correction (22% average drawdowns historically) or a broader bearish shift. - Despite volatility, 72% of BTC supply remains in profit, and DeFi TVL exceeding $1T signals potential long-term resilie
Bitcoin Updates: Metaplanet Increases Its Bitcoin Assets While Competitors Shift Focus from Mining
- Metaplanet boosted Bitcoin holdings via $100M credit and 75B yen buybacks, now holding 30,823 BTC ($3.5B) to drive capital strategy. - Q3 revenue surged 115.7% to ¥2.438B as peers like TeraWulf shift from mining to HPC amid declining crypto profitability. - Japan's JPX considers stricter crypto treasury rules after Metaplanet lost 82% of peak value since May amid market volatility. - BitMine Immersion accelerated Ethereum accumulation to 110,288 ETH ($12.5B) while Hyperscale Data targets 100% Bitcoin/mar
Trending news
MoreCrypto prices
More
