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Peter Schiff, a famous gold defender and a fierce critic of bitcoin, did not fail the opportunity to mock crypto investors after the recent failure of the courses. While Bitcoin lost almost 30% of his value in a few weeks, the economist has launched provocative spikes on social networks.
Peter Schiff Quips on autumn bitcoin under $ 80,000
Peter SchiffEminent financial commentator and a lively defender of precious metals, on Tuesday, with confirmation that the American production industry will experience strong growth, because many crypto millionaires will “need”. This sarcastic statement comes while Bitcoin dropped up to $ 76,600, before it stabilizes about $ 80,000 after the pump.
This fraud is not insulated, but is part of the wider context of the role for the stock market. Nasdaq 100 recorded his worst day from 2022. by falling almost 4%.
The companies exposed to Bitcoin sufficiently suffered, as evidenced by the spectacular decrease in the strategy action (ex microstrategy, -16.68%) and Tesla (-15.43%), two companies invested in Kryptor.
In the echo of this great correction, Schiff was directly examined by the relevance of the US project Bitcoin Strategic ReserveRecently announce Adut Administration. “” If the price can be lowered by more than 30% in less than two months without anything really happening, how can it be reserve any “He said, adding that the logic would be” even harder “to understand if the crypto completed the collapse by 50%.
Between criticism and defense of “normal” correction
These news Peter Schiff attack It is part of the long series of Bitcoin critics. Economist, which has already described the crypto “dead” in May 2024. years despite the levels of trading near records, constantly favors gold and money as refugee values. He believes Bitcoin as a purely speculative means without internal value, presenting, according to him, oversized risks for investors.
Faced with these attacks, some crypto defends specialists radically different vision. Arthur Hayes, a former executive director of Bitmex, says such correction is perfectly “normal” as part of the long bull market. According to him, this is a reduction in even an opportunity for the purchase, especially when the central banks will strengthen its monetary mitigation policy.
This controversy comes in a crucial time for institutional adoption of Bitcoin in the United States. 7. Marta Trump administration organized a Crypto Summit in a white houseGathering of emblematic figures such as Michael Saylor (Strategy), Sergei Nazarov (Chainlink) and Brian Armstrong (coin).
The US Secretary of the Trade, Howard Lunick, confirmed that the President had seriously predicted a strategic reserve focused on Bitcoin, potentially positioning Queen Kriptos as “digital gold” in the national economic strategy.
This correction is ironic once after Michael Saylor presented a white house on Crypto Sumit a 100,000 billion dollar generation strategy over ten years. His plan recommends that the United States acquire up to 25% of the total Bitcoin offer by 2035. years.
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Passionate about Bitcoin, I like to explore meanders from blockage and cryptos and share their discovery discovery. My dream is to live in a world in which privacy and financial freedom are guaranteed, and I firmly believe that a bitcoin tool that can do this possible.
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Words and opinions expressed in this article, only their author engage and should not be considered investment advice. Complete your research before any investment decision.
