Well-known chief economist and Bitcoin skeptic, Piotr Schiff is making headlines again with his latest controversial statement making fun of BTC. In X’s sarcasm-filled post (previously on Twitter), Schiff suggested a radical scenario where everyone becomes opulent after companies in the United States sell all their assets to invest in BTC.
Schiff says sell everything, buy Bitcoin
In his virulence Post XSchiff described a hypothetical scenario in which all publicly traded companies in the U.S. completely shut down their operations, lay off all employees and sell 100% of their assets. He went further to suggest that these companies devote all sales proceeds to buy Bitcoin.
According to Schiff, if such a scenario were to occur, Bitcoin could be worth millions of dollars in market capitalization US stock markets would skyrocketas a result, everyone will become opulent.
Responding to a hypothetical scenario, a member of the cryptocurrency community explained that all BTC holders will be opulent, but Schiff will not. But Schiff responded saying He would also benefit from this scenario as he has made significant investments in US oil stocks, which he believes will skyrocket if US companies liquidate and buy BTC.
He goes on he emphasized the illogic of the narrative, noting that although anyone could become opulent, there would be no goods and services available and no one would own anything.
Schiff’s sarcastic remarks continue his tradition of instability and absurdity in the digital currency market. The chief economist was notable Bitcoin critic for years, often making fun of cryptocurrency and its supporters, all at the same time calling on investors to choose other investment alternatives such as gold and stocks.
Crypto Investor Predicts BTC Will Fall From Above
Despite Schiff’s usual antagonistic rhetoric on the subject Bitcoincryptocurrency has undergone slight consolidation under $68,000 threshold. A cryptocurrency investor and staunch BTC supporter identified as “The Bitcoin Therapist” recently reached out to X, expressing his bullish stance on Bitcoin’s future value.
Cryptocurrency investor revealed that Bitcoin is gearing up for a huge upside push, predicting a $10,000 to $20,000 boost in a single green candle at any time.
He believes that the current market is significantly undervaluing BTC, emphasizing that cryptocurrency is consolidating for over two months in the face of significant purchasing pressure. At the time of writing Bitcoin price According to CoinMarketCap, the price is $67,570.
Despite market volatility, Bitcoin Therapist remains confident of a potential breakout, highlighting this Another BTC peak it would be quick and huge. He too added that once BTC crosses the $75,000 price level, a greater upward momentum is expected for the cryptocurrency. “I have never been more stubborn. I’m at an all-time low for fiat currencies and an all-time high for Bitcoin,” the cryptocurrency investor said.
Featured image created with Dall.E, chart from Tradingview.com
