In a strange turn of events, popular bitcoin critic and gold advocate Peter Schiff has expressed regret at missing out on investing in btc while also recognizing its potential to generate productive investment rewards.
Regrets the decision to invest in bitcoin
Raoul Pal, CEO of Real Vision shared a short clip from an interview with Peter Schiff where he revealed his regret for not investing in bitcoin during his early days at . .
When asked if he could have gone back in time, specifically 10 years ago, he would have considered buying bitcoin, the gold advocate admitted he would, noting that he is not an “idiot.”
“Would I have decided to have invested $10,000, $50,000, $100,000 in it? Yes, of course,” she added. Peter Schiff emphasized that if he had invested, he could have gained massive wealth, possibly “hundreds of millions of dollars, assuming he didn't sell the currency.”
However, he stated that he did not know what he would have done if he had bought bitcoin by then. Even with this admission, he insists that he still has doubts about the underlying principles of bitcoin.
In addition, he noted that he would have remained silent about his investment, attributing any possible profits to the “silly” decisions made by others. This is because he does not believe in btc and would never have encouraged anyone else to acquire the digital asset.
Schiff also noted that his position on the cryptocurrency would not have changed publicly if he had invested in it. “I think she would have publicly been singing the same song, she would have just made a lot of money if she had bought it,” she said.
According to him, one of his colleagues introduced him to btc in 2010, when the asset was valued at around $1, and he thought about investing a substantial amount in it, however, he was very skeptical about the coin, pointing out its investment potential. as “ridiculous” and missed it.
Another reason Schiff didn't invest in btc It's because I didn't see it having such “bubble potential” in the future. Although Schiff was a little sure his price would go up, he admits that he simply didn't want “anything to do with it.”
Next Halving Event Won't Cut btc in Half
On Tuesday, Peter Schiff voiced your ideas about the importance of the next bitcoin Halving The event is expected to take place in April. The gold advocate claims that this year's event will not cut btc supply in half, suggesting a change in the initiative.
According to Schiff, “over 90%” of the total btc supply is currently in circulation, and he believes the supply growth rate is “the only thing” that has halved. Therefore, she believes that “it is not what the miners produce” that matters most, but rather “how much of the current supply they want to sell.”
Featured image from iStock, chart from Tradingview.com