The famous crypto skeptic Peter Schiff maintains his position against cryptocurrencies. Even after the last major Bitcoin rally placed the price of the virtual currency above $ 50,000 per BTC. Thus, in the Tweet Today, Peter Schiff criticizes institutional investors for buying Bitcoin. Calling them fools for investing in the crypto market:
Peter Schiff attacks Bitcoin investors
Since the birth of cryptocurrencies eleven years ago, they have been constantly criticized by several of the main players in the international financial market. Those who consider that virtual currencies such as Bitcoin, without any endorsement by government institutions, are nothing more than mere speculative assets whose price will eventually fall to 0.
Among these crypto skeptics, undoubtedly the most famous is Peter Schiff. Billionaire gold investor, who for years has become a relevant figure within the crypto community, due to his harsh criticism against Bitcoin. Whose collapse he has constantly predicted through his Twitter account and media interviews.
However, contrary to what Schiff predicted, the price of Bitcoin has not stopped growing in recent months. Reaching new all-time highs and attracting hundreds of institutional investors from around the world. Which has pushed the price of BTC even further, leading to Peter Schiff criticizing Wall Street investors themselves.
«Congratulations to those who bought Bitcoin ahead of time, inflated the price, and launched into the hype. You’ve got Wall Street to buy the mania. When I found out about Bitcoin, I didn’t think smart investors were dumb enough to buy. I was wrong».
In this way, Peter Schiff continues to blame speculation for the Bitcoin boom. This time targeting institutional investors on Wall Street for falling into the temptation of fast Bitcoin gains. A stance that, although it seems unsustainable, continues to predict the definitive collapse of BTC and the world of cryptocurrencies.