Peter Schiff, Financial Expert, Might Buy Thousands of Bitcoin for Special Reason

Published:

Gamza Khanzadaev

Prominent financial analyst may purchase few thousand Bitcoin (BTC) for specific reason

May it be a sign of things to come? On his 60th birthday, the widely-known financial specialist and cryptocurrency skeptic Peter Schiff just might have made a concession to the crypto community and Bitcoin investors specifically, by stating that they are indeed correct in their understanding of the Federal Reserve’s latest measures and plans to contain inflation.

The economist claims that the majority of traditional investors are still unaware of the prospective financial meltdown that is about to unfold, and will soon turn into a sovereign debt and currency crisis. The only pity, says Peter Schiff, is that Bitcoin holders are not buying gold.

Peter Schiff and his Stance on Bitcoin

The latest comment from the outspoken crypto critic came on the occasion of his birthday, which he was congratulated on in return by his son, Spencer Schiff. At the same time, the younger Schiff, a known supporter of cryptocurrency, predicted that in 10 years his father will be holding a huge amount of BTC.

The possibility of such a development was not completely dismissed by the senior Schiff, albeit with a bit of skepticism. According to Peter Schiff, Bitcoin will have already collapsed by the time he turns 70, so he could sell one ounce of silver and buy thousands of BTC. But, the financial expert notes, this would just be for fun. To give an idea, one troy ounce of silver currently equals 0.00082 BTC.

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