Peter Schiff, a notable economist and a stark Bitcoin critic, is once again busy grabbing the central spotlight. In a recent interview, Schiff outlined how he may start contemplating becoming a Bitcoin proponent if one global change concerning BTC becomes mainstream within the world’s economic structure.
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Schiff: A Bitcoin Proponent?
Source: Entrepreneur
Leading economist and strict Bitcoin critic Peter Schiff has shared a compelling use case for BTC and conditions that will make him a BTC proponent. During a debate with Jack Mallers, Schiff shared that if BTC evolves into a global payment method, he may consider becoming a staunch Bitcoin supporter.
He later stated that if Bitcoin becomes a mainstream payment method, influential enough to replace cash in restaurants, then he may consider joining the BTC proponent team.
“I can buy insurance policies, and they have Bitcoin benefits, pay my premiums in Bitcoin. I get my benefits if rents are in Bitcoin. If everything is expressed in a quantity of satoshi, then I guess I was wrong. You were right. Bitcoin actually became money.”
But Schiff’s optimism was short-lived, as the economist later shared that Bitcoin no longer excites him. He later backed his statement by reiterating how there are other handsome bets than Bitcoin if he wants to speculate on assets.
“If I’m going to speculate, there are better bets to make than betting on a crowded trade like Bitcoin.”
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Gold is Better Than BTC: Schiff
Schiff has once again struck X with his strong opinions and ideas. The economist took to X to outline a new change, streamlining how Gold overtakes Bitcoin ETFs. In his latest tweet, Schiff shared how returns on Bitcoin ETFs have reduced to 10% while gold still gives strong returns, up to 24%.
He later shared how Bitcoin ETF supporters are betting on the “wrong horse”, and that gold will be the ultimate gain provider in the long haul.
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