Crypto skeptic Peter Schiff regrets not buying $ 10 bitcoins
A well-known proponent of investing in gold and an implacable opponent of cryptocurrencies Peter Schiff admitted that he reproaches himself for not buying bitcoin when it was worth about $ 10.
Speaking to CNBC co-founder Anthony Pompliano, Morgan Creek Digital, Schiff said, “I really bite my elbows because I had the opportunity, I could be a billionaire already if I bought it then. I needed to buy when I first heard about it. “.
At the same time, Schiff does not consider it expedient to buy cryptocurrency now: “Just because I made a mistake and did not buy it then, I will not aggravate the situation, be greedy and buy now. This deal is in the past “.
He also turned to his favorite theses that bitcoin has no intrinsic value, is too volatile to function as a means of payment, has signs of a financial bubble and a cult..
In response, Pompliano said that bitcoin and gold can be in the same investment portfolio: “I am not here to oppose gold specifically. I think there is room for gold in portfolios, but I also think it’s a little shortsighted to go for gold while excluding Bitcoin entirely. “.
Schiff continued to insist that Bitcoin is not destined to return to the peaks of late 2017: “I don’t think the hype or excitement is as great today as it was a year or a year and a half ago. The price is falling. I believe the market peaked at $ 20,000 in December 2017. At the same time, the peak in terms of interest was reached. When the market fell, people began to evaluate it more objectively, and before that it was only growing. People have lost money. I suppose that among the people who hold bitcoin, there are more people who lose money than they earn. “.
In early July, Schiff received bitcoin donations from community members who wanted to help him become more familiar with cryptocurrency..