Popular Bitcoin Critic Says “Donald Trump Once Called Bitcoin a Scam” as BTC Becomes Expensive
Peter Schiff hits back against Bitcoin and Donald Trump as both are experiencing a phase of success.
Peter Schiff, a global economist and prominent supporter of gold and gold ETF products, has long opposed Bitcoin and continues to praise gold as the best investment asset. With Bitcoin currently surging amid high bull sentiment, Schiff has made jealousy-tinged comments against Bitcoin.
On 11 Nov 2024, Peter Schiff reminded the public of an old statement from the latest elected US president Donald Trump regarding Bitcoin. At the time, Trump called Bitcoin “a scam” and stated that its value was “derived from thin air.”
Schiff added that the value of this “thin air” is now significantly high. He shared a video of a puppet, indirectly suggesting that Trump is now a puppet under the influence of political voters.
A Bitcoin investor shared his opinion on Schiff’s views, stating there is a major difference between Schiff and other Bitcoin critics. He explained that Schiff does not want to understand Bitcoin and its fundamentals, while other prominent figures like Trump, BlackRock CEO Larry Fink, and other business leaders have shown interest in Bitcoin after learning about its fundamentals. This crypto X user indirectly called Schiff a “dumb” person who refuses to understand anything about Bitcoin beyond its price volatility.
Bitcoin Price Action
The current trade price of Bitcoin is $88,461, a 10% increase over the past 24 hours. Notably, today Bitcoin hit $89,507, marking a new all-time high. Bitcoin has been consistently reaching new highs, signaling that the market is in a strong bull phase. It will be interesting to see how long this momentum continues, though some crypto analysts predict that the current bull run will persist with similar momentum over the next 12 months.
