Peter Schiff Says 'Bitcoin Takes the Elevator Up and Then Jumps' As Apex Crypto Breaches $56K — Receives Response: 'You Accept BTC on Your Website'
Portfolio Pulse from Mehab Qureshi
Peter Schiff, a known Bitcoin critic, commented on Bitcoin's recent rally surpassing $56,000, suggesting it's more volatile than traditional markets. Despite his skepticism, his company Schiffgold accepts Bitcoin. Schiff also ventured into the NFT space with an Ordinal art collection on the Bitcoin blockchain. He maintains Bitcoin lacks intrinsic value compared to gold. Bitcoin was trading at $56,901, up 0.93%.
February 28, 2024 | 4:09 am
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NEUTRAL IMPACT
Peter Schiff's comments on Bitcoin's volatility and lack of intrinsic value contrast with its recent rally past $56,000 and acceptance for payment at Schiffgold.
Schiff's comments highlight Bitcoin's volatility and skepticism around its value, which could influence investor sentiment. However, the acceptance of Bitcoin by Schiff's company and its recent price rally suggest a complex impact on Bitcoin's short-term price direction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80