Peter Schiff Says Bitcoin Supply Will Not Be Cut In Half By Halving, Gets Schooled By Crypto Analyst: Gold's Supply 'Doubling' Every 70 Years
Portfolio Pulse from Benzinga Neuro
Economist Peter Schiff shared his views on the upcoming Bitcoin halving, stating it will not cut the supply in half but will halve the growth rate of supply. He emphasized the importance of current supply holders' willingness to sell. Cryptocurrency analyst Willy Woo countered Schiff's perspective, highlighting that the halving will cut Bitcoin's inflation rate to half that of Gold, which is doubling every 70 years. This discussion comes as Bitcoin's price remains bullish, recently breaking the $73,000 mark and reaching new highs.
March 14, 2024 | 2:19 am
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The upcoming Bitcoin halving event and the bullish market sentiment, highlighted by Bitcoin's recent price surge to over $73,000, indicate a positive short-term impact on Bitcoin's price.
The article discusses the differing views on the impact of the Bitcoin halving event, with a focus on the reduction of the inflation rate rather than the supply itself. The bullish market sentiment, underscored by Bitcoin's recent price achievements, suggests a positive short-term impact on Bitcoin's price. The anticipation of the halving event and the positive predictions by analysts contribute to the bullish outlook.
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