For the longest time, Bitcoin investors have been shooting for the moon, calling for the BTC price to hit lofty price points, like $50,000 and $100,000. The cryptocurrency has the potential to usurp traditional power schema, after all. But, Peter Schiff, a leading gold investor, doesn’t think such appreciation will take place.
Bitcoin Won’t Hit Six Digits, Schiff Declares
The prominent gold bug and libertarian investor remarked in a recent tweet that “Bitcoin is never going to hit $100,000,” seemingly in a bid to quash the hopes and dreams of industry hopefuls.
Keep dreaming. Bitcoin is never going to hit $100,000!
— Peter Schiff (@PeterSchiff) November 8, 2019
While Schiff didn’t explain his rationale in this latest tweet, he has been quoted as saying that BTC is an unreliable store of value and an improper investment, especially when pitted against precious metals.
Schiff’s latest quip against Bitcoin comes shortly after he remarked that the cryptocurrency market is ready to fall to pre-2017 levels. As reported by this outlet previously, he opined that the entire…
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Author: Nick Chong