Is Peter Schiff secretly promoting Bitcoin?
Schiff pointed to the results of his most recent poll, which shows that 87% of Bitcoin holders would still refrain from selling the leading cryptocurrency even if its price were to crash by as much as 99%. In fact, these holders would keep buying more Bitcoin all the way down. Even though Schiff's statement was meant to be a pointed critique of the leading cryptocurrency, many saw his polling data as an apparent endorsement of Bitcoin.
Despite maturing and seeing mainstream success, Bitcoin still collapsed 77% during its previous bear cycle that took place from Nov. 9, 2021 to March 4, 2024. It took the cryptocurrency 469 sessions to finally enter a bull cycle.Schiff, who has been one of the strongest cryptocurrency critics since as early as 2011, recently predicted that the leading cryptocurrency could crash to as low as $3,500.
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