September 26, 2021

Peter Schiff regrets not buying Bitcoin

Bitcoin skeptic and gold advocate Peter Schiff admitted in an interview with Coin Stories that the first cryptocurrency price could soar to $ 100,000 and he didn't buy the asset in 2011 in vain.

The entrepreneur called the price increase quite possiblebitcoin to $ 1 million, but made it clear that he still considers the asset to be a bubble. In his opinion, the coin will never become a generally accepted means of payment, and the only option for its use is speculation.

Schiff did not dispute the fact that the first cryptocurrencyturned out to be among the most profitable assets in terms of the rise in dollar prices since its inception. He also regretted not investing in bitcoin in 2011 when he first found out about it.

When asked about his disappointments in finance, the president of Euro Pacific Capital replied:

“It is clear that I would like to buy bitcoin whenfirst heard of him - it was a serious mistake. Could I invest $ 100,000 in it? Of course. I mean, I invested that money in other things that turned out to be unsuccessful. "

According to Schiff, he could become one of the Bitcoin billionaires as he learned about the asset early on.

“If I could go back in time, I would do it,” added the entrepreneur.

Earlier, Schiff congratulated those who managed to invest in bitcoin before the price soared and forced Wall Street to succumb to "this mania."

In April 2021, his son Spencer transferred 100% of his investment portfolio to the first cryptocurrency.