Peter Schiff, a brilliant economist, gold bug and Bitcoin critic, took to Twitter to make predictions for 2023.
In a tweet, Skiff He said that Bitcoin Aspirants who were optimistic about a price hike in 2023 will have their hopes dashed as the price will drop to $5000 in the coming year. Schiff’s predictions have elicited many derisive reactions; His position has been succinctly described as an absurd prediction.
In an interview on Thursday, the Bitcoin critic urged all crypto holders to run safely as soon as possible. will sell own assets and use them to buy physical gold. Anyone looking to invest in Bitcoin as a long-term store of value or Inflation hedge Avoid doing so.
Peter takes a microstrategy stance on Bitcoin
The micro strategy boss Michael Sailer Schiff wasn’t immune to the barrage of criticism, as he, too, exploded. He said Siler’s obsession with bitcoin would be a stumbling block for the bitcoin investor, and microstrategy investors would criticize his decisions.
Schiff took to Twitter to note that the company’s stock had fallen to a 52-week low and had fallen a staggering 90% from its all-time high in February 2021. So far, MicroStrategy has bought 132,500 Bitcoins at a high price. More than $4 billion.
MicroStrategy was required to issue senior convertible notes for the phased purchase of digital assets.
While serving as the company’s CEO, Michael Sailer supported the Bitcoin philosophy.
He was counting on the cryptocurrency’s core technology to soon lead to significant price increases. MicroStrategy has come under fire from Peter Schiff on several occasions for announcing that its BTC assets will remain on its balance sheet for the foreseeable future.
Decline in share price Micro strategyA firm with significant exposure to Bitcoin reflects the pessimistic atmosphere fueled by the ongoing crypto winter.
Peter Schiff’s previous views on crypto
An appearance by Peter Schiffs Cynicism Crypto dates back to March 10, 2021, when his son Spencer Schiff decided to join the crypto bandwagon by buying Bitcoin Dip.
Spencer Schiff, who focuses on libertarianism and anarcho-capitalism, noted that in March 2021 his previous largest gold holdings were being replaced by Bitcoin.
Reacting to his son’s new interest in Bitcoin investments, Peter Schiff threatened to fire him if his Bitcoin move failed.
As of today, Peter Schiff is currently one of the most outspoken opponents of cryptocurrencies.