Sell Everything, Buy Bitcoin
Peter Schiff, a well-known Bitcoin skeptic, has once again taken a jab at the cryptocurrency. In a sarcastic post, he suggested that if all U.S. companies sold off their assets and invested in Bitcoin, everyone would become rich.
Schiff’s Hypothetical Scenario
Schiff’s scenario involves U.S. companies shutting down operations, firing employees, and selling everything they own to buy Bitcoin. He claims that this would make Bitcoin worth millions and send the stock market soaring.
Response from Crypto Community
A crypto enthusiast pointed out that while Bitcoin holders would become wealthy, Schiff would not. However, Schiff argued that he would still benefit because he has invested in U.S. oil stocks, which he believes would skyrocket in such a scenario.
Schiff’s Criticism of Bitcoin
Schiff’s remarks reflect his ongoing belief in the instability of Bitcoin. He has consistently criticized the cryptocurrency and its supporters, advocating for alternative investments like gold and stocks.
Bitcoin Therapist’s Optimistic Outlook
Despite Schiff’s skepticism, Bitcoin has been trading above $67,000. A crypto investor known as “The Bitcoin Therapist” predicts a significant surge in Bitcoin’s value, potentially reaching $10,000 to $20,000 in a single upward move.
Bullish Sentiment
The Bitcoin Therapist believes that the market is undervaluing Bitcoin and that it is poised for a breakout. He anticipates that once Bitcoin surpasses $75,000, further upward momentum is likely.
