Peter Schiff: From Bitcoin Skeptic to Potential Investor

Regrets and Missed Opportunities

Peter Schiff, a well-known Bitcoin critic and gold advocate, has expressed his regrets for not investing in Bitcoin earlier. He admits that he missed out on the opportunity to make significant profits from the cryptocurrency’s rise.

If given the chance to go back in time, Schiff says he would have invested in Bitcoin, even though he doesn’t believe in its underlying principles. He estimates that he could have made “hundreds of millions of dollars” if he had invested and held onto the coins.

Reasons for Not Investing

Despite his current regret, Schiff explains why he didn’t invest in Bitcoin in the past. He was skeptical about its potential and considered it a “ridiculous” investment. Additionally, he didn’t believe it had the potential for such a large price bubble.

Upcoming Bitcoin Halving

Schiff also shared his thoughts on the upcoming Bitcoin halving event. He believes that it will not actually cut the Bitcoin supply in half, but rather the supply growth rate. He emphasizes that the important factor is not how much Bitcoin is produced, but how much current holders are willing to sell.