Peter Schiff Slams Bitcoin: Price Crash Proves It Can’t Be a Reserve Asset!
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Peter Schiff, a renowned economist and Bitcoin critic, has spoken out against Bitcoin following a significant price drop of nearly 20%, bringing its value to $50K. Schiff argues that Bitcoin's recent downturn is evidence that it will never be a stable reserve asset. This commentary comes amid a broader market decline at the start of the week.
Schiff's criticism emphasizes Bitcoin's volatility, which he believes undermines its potential as a reliable store of value. According to Schiff, the recent price crash further validates his long-standing warnings about Bitcoin's instability and its unsuitability as a hedge against economic uncertainty.
Source: coinpedia.org ↗
