Peter Schiff, a gold digger and ardent critic of Bitcoin, who previously said the digital currency would never reach $ 50,000, now says it could reach $ 100,000, but its fall to zero is inevitable. Is.
to the the report Coin Telegraph, in 2019, when CNBC presenter Joe Kernen predicted that the price of bitcoin would reach $ 55,000 in May 2020, Peter Schiff scoffed. That bitcoin never reaches $ 50,000.
The price of Bitcoin crossed the $ 50,000 mark yesterday, slightly behind the Kernen forecast. The jump came as Bitcoin grew more than 8 percent in the previous seven days.
With this growth, digital currency enthusiasts on Twitter, including Schiff’s son, regained his former career.
Schiff, CEO of Euro Pacific Investment and a gold prospect, raised the price after his previous predictions came true and said that it was “unlikely” that Bitcoin would reach $ 100,000, but a permanent fall. It is “inevitable” towards zero.
Schiff, a pro-Bitcoin son of Schiff, quickly ridiculed his father, who did not seem to be able to admit his mistake about Bitcoin.
Schiff, known for his enmity with Bitcoin, has made several erroneous predictions about the price of this digital currency over the past few years. He is more supportive of investing in gold.
At the time of the Bitcoin crash in March 2020, Schiff said it was priced below $ 4,000. But later it turned out that his prediction of the price ceiling of this digital currency was the bottom and Bitcoin experienced a big rise.
Schiff then said he was wrong about the new Bitcoin record, but still considered the $ 50,000 price tag to be the “biggest bubble” of all digital assets.
After all, Schiff’s predictions about the price of gold were not very accurate. He said in 2010 that the price of gold would be between $ 5,000 and $ 10,000 an ounce in five to 10 years; But the price of gold in 2020 only exceeded $ 2,000 a few times before returning to the $ 1,700 range.