Bitcoin Critic Peter Schiff Issues a Call to Crypto Holders

Economist Peter Schiff, known for his anti-cryptocurrency views, called for investors to sell Bitcoin, calling for it to trade at $100,000 as “an opportunity not to be missed.”

Schiff argued that the current price is not sustainable in the long term, that these levels may not be seen again in a lifetime, and argued that Bitcoin holders should sell without delay.

Schiff’s statements quickly sparked controversy on social media, with some users reminding them that the economist had issued similar warnings 12 years ago when BTC surged to $1,000.

Among the criticisms leveled at Schiff was the question, “If $100,000 is a historic opportunity, why are you recommending a sell?” Schiff responded by saying that Bitcoin might never surpass $100,000 again due to an impending price drop.

Schiff has long been known as a staunch gold advocate, citing the BTC price’s underperformance of gold following its recent rally.

*This is not investment advice.