Peter Schiff, a prominent stockbroker and gold investor, rejected the opportunity to invest in bitcoin when it was trading at a few dollars in 2010.
Despite his long-standing criticism and comparing bitcoin to"tulip mania 2.0," Schiff said he would have invested solely for the potential profit, likening it to a gamble rather than a"genius" move.Peter Schiff, a prominent stockbroker and gold investor, recently said he'd looked at bitcoin back in 2010 – when it was valued around a few dollars – but didn’t see the investment value at the time. The largest cryptocurrency is currently trading around $73,000.
Bitcoin has surged over 200% in the past year on multiple catalysts, such as growth in underlying technology and demand from spot exchange-traded funds offered in the U.S. Gold has risen 13% over the past year,“I would have bought it just betting on other people being dumb enough to buy it and pay a higher price,” he said, likening a successful bitcoin investment to a gamble rather than a “genius” move.
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