Bitcoin critic Peter Schiff has rattled the market with a statement in which he admitted that he’d be selling his BTC now, assuming he had bought the coin back in 2010.
Peter Schiff is one of the biggest Bitcoin critics who dishes negative comments about the premier digital currency. For the past decade, Peter Schiff has been advocating that buying Bitcoin is a doomsday move that every sane person should avoid like a plague.
Despite his belief that the price of Bitcoin still has a long way to go, he acknowledged recently on X in plain terms that he regretted not buying the coin.
Regret But Stance Remains the Same
Calling attention to the twisted narrative from the media, Peter Schiff noted that acknowledging his regret for not buying Bitcoin in 2010 was no news. He said that despite highlighting this fact, he has not changed his mind about Bitcoin.
I don't understand how this is even news? All of Bitcoin's biggest critics wish they had bought it in 2010. Anyone who says they don't regret not buying it back then in lying. But that changes nothing about anyone's overall opinion on Bitcoin.
— Peter Schiff (@PeterSchiff) March 14, 2024
He said even the top critics are regretting not buying Bitcoin. Peter Schiff pointed out that those who acquired the coin at the time wished they had bought more. This statement likely stems from the massive growth in the price of Bitcoin from 2010 to date.
As measured by crypto market data aggregator CoinMarketCap, Bitcoin’s price has jumped by more than 138,984,036.14% from July 14, 2010, when it traded at $0.04865 to its current price of $67,796.54.
Peter Schiff’s regret also stems from the growth of his favorite asset, Gold, which has been relatively mild from 2010 to date. According to data from Gold.co.uk, Gold has recorded a 166.50% growth over the past 15 years. The asset added over £1,063.32, moving from a low of £559.59 to its current price of £1,701.95 within that period.
Making up for Lost Opportunity
While Peter Schiff acknowledged missing the Bitcoin investment train, he has devised new means to get his hands on the digital currency.
The Bitcoin critic announced earlier this month that he had launched the Golden Triumph Ordinals set, a digital collectible he minted on the BTC network. He advised investors to divest the profit from their investment in Bitcoin following the explosion in price into the “real thing” – Gold.
One thing you can do with your overpriced #Bitcoin is buy one of six Golden Triumph ordinals currently offered for sale. If you think 21 million Bitcoin are scarce, there are only 50 of these babies. Get ready #HOLDers. These bad boys are going to moon.💎🤲🏻https://t.co/SPJSbv1ut5
— Peter Schiff (@PeterSchiff) March 6, 2024
Receiving Bitcoin payments for the Ordinals has also sparked key debate in the market but ultimately underscores BTC’s growing open interest and adoption.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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