The rapid fall in the price of the first cryptocurrency is only a matter of time. This was stated by the President of Euro Pacific Capital Peter Schiff in an interview Coingeek.
“I didn’t think he [биткоин] can take place like money, and I was right – he still hasn’t succeeded,” Schiff said.
He stated that he underestimated the “potential of the bitcoin bubble.” In his opinion, most investors do not believe in the first cryptocurrency, but only expect that someone will buy it at a high price.
The president of Euro Pacific Capital considers his decision not to invest in bitcoin 12 years ago to be correct, despite the high profitability of the asset.
“I could put a significant amount of money into this and make a billion or more,” Schiff said.
The businessman believes that stories about how people lose money on cryptocurrency will overshadow stories about people who got rich on it.
“The peak we saw in 2021, around $70,000, is everything. Now we are just forming a massive top, and eventually bitcoin will explode,” he added.
At the time of writing, the first cryptocurrency is trading near $31,000. Over the past day, the asset has risen in price by 1.4%, according to CoinGecko.
Recall that in May, Peter Schiff announced his own collection of non-fungible tokens based on bitcoin.
He previously stated that there is “nothing lower quality than cryptocurrencies.”
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
The rapid fall in the price of the first cryptocurrency is only a matter of time. This was stated by the President of Euro Pacific Capital Peter Schiff in an interview Coingeek.
“I didn’t think he [биткоин] can take place like money, and I was right – he still hasn’t succeeded,” Schiff said.
He stated that he underestimated the “potential of the bitcoin bubble.” In his opinion, most investors do not believe in the first cryptocurrency, but only expect that someone will buy it at a high price.
The president of Euro Pacific Capital considers his decision not to invest in bitcoin 12 years ago to be correct, despite the high profitability of the asset.
“I could put a significant amount of money into this and make a billion or more,” Schiff said.
The businessman believes that stories about how people lose money on cryptocurrency will overshadow stories about people who got rich on it.
“The peak we saw in 2021, around $70,000, is everything. Now we are just forming a massive top, and eventually bitcoin will explode,” he added.
At the time of writing, the first cryptocurrency is trading near $31,000. Over the past day, the asset has risen in price by 1.4%, according to CoinGecko.
Recall that in May, Peter Schiff announced his own collection of non-fungible tokens based on bitcoin.
He previously stated that there is “nothing lower quality than cryptocurrencies.”
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!