57-year-old cryptocurrency critic and CEO of Euro Pacific Capital Inc, Peter Schiff has regretted not buying Bitcoin.
The broker-dealer and an astute lover of Gold admitted that he committed a grave mistake for not acquiring Bitcoin when he first heard about the digital gold.
Peter, who was asked by one of his followers about the time he would have admitted he made a mistake for not holding BTC, said he already accepted he made mistake for not purchasing the digital currency when he “first learned about it.”
The gold maximalist posited that he would have generated a lot of income selling into the hype. However, he could not because of his assessment of the Bitcoin value, which he still holds in high esteem till today, hence it would have been a mistake to have bought the digital asset as at then.
Peter made this declaration less 6 hours to Bitcoin halving, a prominent event expected to increase the scarcity of Bitcoin. The event will also reduce the amount of income earned by miners.
As the event draws nearer, Bitcoin is yet to return to its all-time high of $20,000. However, 3 days ago, BTC slipped from $10,000 to $8,100. The development raised lots of questions regarding the possibility that this halving will favor BTC price.
Like Peter Schiff Like Nouriel Roubini
Like Peter Schiff like Nouriel Roubini, Bitcoin is worth nothing before the two notable critics. On several occasions, Peter had condemned the price surge of BTC, doubting that it has genuine price growth.
Yesterday, Nouriel, a professor at the University of New York, fired numerous attacks at Bitcoin after the price dropped by 11percent in a sudden tumultuous action which saw BTC move to the $8,110 level.
PwC Research Claims More Hedge Funds are Exposed to Bitcoin and Other Crypto Asset
While Bitcoin critics like Nouriel Roubini and Peter Schiff questioned the authenticity of Bitcoin liquidity, PwC, one of the big four accounting/auditing firm, has showed in a finding that that in 2019, more hedge funds were exposed to Bitcoin and other cryptocurrency.
The finding indicates that hedge funds that are centered on crypto multiply their bitcoin investment by two folds in 2019 and had $2 billion crypto assets in their cover by the year end.
Price of Bitcoin
Bitcoin is still trading below its previous price. The digital currency is changing hands at $8,814, based on data from CoinDesk Market. There’s high expectation on the incoming halving as lots of enthusiasts believe the event will take BTC higher.