From Investing.com: 2024-05-12 09:30:24

Peter Schiff has clarified that he does not own any Bitcoin despite speculation. He criticizes the cryptocurrency’s value and likens the hype around it to being “drunk on the Kool-Aid.” Schiff’s view aligns with his prediction that as more investors hold Bitcoin ETFs, prices will decline due to increased selling pressure.

Critics suggest Schiff’s Bitcoin critiques are a branding strategy to promote gold, but his statements are gaining attention. While he has been right in some criticisms, his predictions have not always been accurate. Schiff’s skepticism of Bitcoin’s market performance continues to draw interest and analysis.

Read more at Investing.com: Peter Schiff Doesn’t Own Any Bitcoin: Statement By U.Today