“A financial asset is in a bubble when its price has no relationship to its underlying present value or a reasonable expectation of its future value, and investor conviction in price appreciation is high and fear of loss is low,” Peter Schiff wrote on Twitter, adding “At $50k #Bitcoin is the biggest bubble of them all”. Schiff, the CEO of Euro Pacific Capital, has frequently been critical of cryptocurrencies, maintaining that bitcoin is a massive speculative bubble that will implode, and people who are buying it now will be left holding the bag. “Only fools are choosing bitcoin” over gold, Schiff said.
In this video, Peter Schiff why he thinks Bitcoin is going to collapse. Do you agree with him? Comment your thoughts below.
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“Bitcoin is Fools Gold” (BEWARE) – Peter Schiff
Peter Schiff is an economist, financial broker/dealer, author, frequent guest on national news, and host of the Peter Schiff Show Podcast.
00:23 – RISING PRICES IN THE U.S
02:02 – WHY IS THE GOLD STILL FLAT
03:34 – WHAT IS HAPPENING IN THE BITCOIN STORY
06:13 – TWO TYPES OF PEOPLE IN BITCOIN
07:41 – WHY IT’S TOO LATE TO BUY BITCOIN
#BTC #PeterSchiff #WealthyValue
Full interview (Credits): Peter Schiff: Bitcoin still going to ‘collapse’; ‘death spiral’ of inflation coming (Pt. 1/2)
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