The rise of Bitcoin (BTC) in recent days has led more than one critic to review his own words. In this case we have Peter Schiff, labeling people who do not sell their Bitcoins at this time as real idiots. Will we really be, or will it be the other way around?
Specifically, in a tweet on August 20, Peter Schiff expressed his particular opinion. He wrote:
What a thing. It would be an idiot not to regret not buying Bitcoin, when the price was much lower. But, the real idiots are the ones who are not selling it now.
Those who are not selling Bitcoin now are “real idiots”
In particular, Euro Pacific Capital CEO Peter Schiff keeps pretending that people sell their Bitcoins. Despite his wrong predictions.
By the way, in his Tweet he launched his controversial comments in response to a publication in which he made reference to his previous statements. Stating that those who are not selling their Bitcoins right now are “the real idiots.”
However, at the same time Peter Schiff recognized that he himself would be an idiot if he did not regret not having bought Bitcoins, when their price was much lower.
As a consequence, Peter Schiff’s Tweet was filled with comments, by Bitcoin enthusiasts, who rejected his observation.
Peter Schiff regrets not buying Bitcoin
In a conversation with Natalie Brunell during her Coin Stories Podcast, BTC critic Peter Schiff said that people started talking to him about Bitcoin, when the price was less than $ 10 per token. He added, that the concept behind the digital currency was intriguing.
«At the time I did not foresee that it could be so widely adopted by so many people. He certainly did not anticipate large companies or investment banks getting involved. I know I was wrong to think that this could turn out to be such a big bubble».
Although Peter Schiff shows some regret, he said that he has moved on and would not invest in him now. Since you expect the market to eventually lose its value.
«I wouldn’t even consider buying it now. As far as I’m concerned, everything is risk. The advantage is limited and the disadvantage is enormous».
Forecast at $ 100,000
Despite all the negative things that Schiff had to say about Bitcoin, he couldn’t deny the fact that the cryptocurrency has been among the top performers in terms of price since its existence.
«Clearly I wish I had bought Bitcoin when I first heard about it, it was a serious mistake. I could have put $ 100,000 in it, yes I could have. If I could go back in time that’s one of the things I would do».
Peter Schiff also took the opportunity to talk about possible BTC price increases. He pointed out that it is quite possible for Bitcoin to hit $ 100,000 or even $ 1 million.
Finally, what do you think about Peter Schiff’s comment ?, «You are a real idiot if you don’t sell your Bitcoins now». Let us know in the comment box.
At the time of this writing, a Bitcoin is worth $ 48,600. According to our Crypto Online tool.
I close with this phrase by Anthony Pompliano: «So the value of Bitcoin is that no one has any idea what its price will do, how much is that worth?»