Peter Schiff Questions 'Trump-Inspired' Bitcoin Pump: 'One Of The Promises He Did Not Make Was To Buy Any'
Portfolio Pulse from Aniket Verma
Economist Peter Schiff expressed skepticism about Bitcoin's recent price surge, attributing it to misplaced expectations of support from a potential Trump administration. Schiff dismissed the idea that Trump would buy Bitcoin, despite some in the cryptocurrency community believing a Trump victory would be bullish for Bitcoin. Schiff also highlighted gold's performance, noting its record highs compared to Bitcoin's range-bound status.
October 17, 2024 | 3:44 am
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Peter Schiff doubts the sustainability of Bitcoin's recent price increase, attributing it to unfounded expectations of Trump administration support. He emphasizes that Trump has not promised to buy Bitcoin.
Schiff's comments suggest skepticism about the recent Bitcoin rally, which he attributes to unfounded expectations of Trump support. This could lead to uncertainty among investors, potentially stabilizing or slightly decreasing Bitcoin's price in the short term.
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