Peter Schiff tweeted back in 2019 saying something like "Keep dreaming. Bitcoin is never gonna hit $100k."
A lot of folks and critics have thrown shade at Bitcoin, and honestly, that just shows where they stand. I bet he's regretting those words now.
Bitcoin's value has been climbing steadily, and honestly, it feels like the sky's the limit for us investors. I'm convinced that in the next 10 to 15 years, Bitcoin is gonna open up massive opportunities for all of us who hold onto it.
So don’t be like Peter Schiff, set a new goal for yourself.
He doesn't appear to be an optimist and supports bitcoin publicly, but we don't know if he may have been secretly buying and holding some bitcoins. Things can change quickly and sometimes it doesn't take long, so the assumptions or what came out of his mouth that day have been refuted in December 2024. Bitcoin has managed to reach its most important target in its price history, it was $100k which it hit a few days ago. The price even soared higher, although now it has been slightly corrected.
Such a statement will always emanate from newbies who lack the fundamental knowledge of Bitcoin and how its price has reacted at various times and stages, I guess by now the guy who made that statement will be burning in his self-made shame right now, Becassine it was out of print for a public figure to come out and make such careless statements about glibakasset like bitcoin which also double as a technology of this age.
Forecasting a 100k price limit for bitcoin is way below standard and pricing for bitcoin both in the short term and on the long term goals, and as long as bitcoin has already broken that price benchmark, 100k is now a thing of the past for bitcoin and all that is needed right now is how bitcoin build the needed liquidity to stay above that price from now henceforth.
Peter Schiff was flat out wrong about Bitcoin many times. I mean, the guy was just so dang confident bitcoin price would crash, but we all know what happened instead. Looking back now, his tweet seems hilarious. Though I don't really feel bad for the guy. He was clearly trying to scare folks away by spreading FUD. And unfortunately some investors still take him seriously!
I remember this thread similar to this one: Good Point, Peter Schiff!!!
I'm not sure if he has regrets or what, but we all know that once a perma-bear, will always be perma-bear like Warren Buffett and others who have been on the offensive about Bitcoin many years ago.
But for us Bitcoin enthusiast, we do not need to listen to this clown, we have our own goals and obviously, we want to accumulate as much as we can.
Oh Peter Schiff, everybody's favorite BTC sceptic **cough**
This guy must lie awake at night, so frustrated that he couldnt just put his pride to one side & buy BTC. There are plenty more like him too, that will refuse to change & see their net worth diminish slowly over time due to inflation.
We are all positive and optimistic on what's coming to Bitcoin and the bull run is also causing that much emotion to us. But even we are not in the bull run, we've been believers of Bitcoin ever since and this is why we're here and we've been holding for so long. It's all worth the wait for those that have held for a very long time and those that haven't yet, it's time to keep on going and continue the accumulation. Set a long term goal and target for you folks to enjoy it. We've been there and endured all of these negative sh!ts that these people have said to Bitcoin.
Be yourself and so as his son that bought Bitcoin because we believe that owning Bitcoin is going to help us reach those goals.
You gotta admit, it feels pretty dang good seeing folks like Peter Schiff with egg on their face. Dude has been hating on Bitcoin forever, yapping about how it will never amount to anything. Just shows he dont know jack about it. Its a classic case of arrogance and ignorance. Bitcoin dont care what the haters say - it just keeps on climbing, breaking records left and right and so imma keep cheering for Bitcoin and let the negative nancies waste their breath. I mean, who got time for all that useless skepticism anyway?
I think he just didn't have the courage to say the right things about bitcoin - then he came along and tried to undermine investors' confidence and optimism about the price of bitcoin in the long term. Of course $100K doesn't seem easy to hit in 2019 - but in 2024, $100K is real price. Nothing is impossible to achieve for a booming investment asset like bitcoin - so perhaps he needs to change his negative attitude towards bitcoin after watching $100K hit.
Twitter is a wide space if one is not knowledgeable enough they get easily manipulated, funny enough people actually followed the advice given by Peter schiff then. Im sure he had some supporters because I read related articles influencers talk bad about bitcoin most surprising he had to indicate a price range and today bitcoin has surpass this level. Presently if anyone should be easily fooled about an investment choice, bitcoin will never be in such list since we all know bitcoin has proven to be reliable, those who invested at the early time aside the early time 2019 is enough for anyone to make a good profit now.
I can tell you he has no regrets about his prediction even if wrong. Neither will Warren Buffet be especially bothered, you should realize this about Buffet as he never judges an asset by price so no change occurred in his view or opinion from this price going higher.
Buffet is still a billionaire, very successful. Schiff still has whatever fortune but he is very successful from what I know, just not in crypto and plenty of people still avoid this whole sector thinking it strange at best and a mirage false at worst despite the price gains.
Alot of the world isnt using BTC, so long as the product itself remains capable but also improving in its ability to handle traffic; BTC will increase its number amongst the normal population not just technology based users, gains are certain to continue.
He will say I was right for five years! He got gains elsewhere meanwhile of course.
The problem is that some of these bitcoin critics will spread fud in public but they will never come out publicly when they have a change of mind, like when they realize that they were wrong about bitcoin. I know some of them would have had a change of mind at some point and possibly start investing in bitcoin. My anger is that when this happen, they will never come out public to say it after misleading millions of people about bitcoin. I think this is ethically wrong and shows lack of integrity on their side. I love the fact that bitcoin does not really give a fuck about what anyone says, it keeps making progress and blessing those who embrace it.
There would really be those who do turned out to be critics but actually they are really that hiding themselves on investing on bitcoin and wont really showing up publicly because they have that reputation to defend on.
They will really be that stood still on what they have said in the past on which they do turned out to be perma bears but ending up on having those doubts and will really be ending up on having that change of mind because of the price that they have thought that it wont happen. How about on the current price that it do hit up on $100k? How he would be telling up to himself? Pretty sure that would be change of hearts.
The question is,if he had already invested on the moment that he had said up some negative words towards Bitcoin.We do know that there are those billionaires who do have that kind of words back in the past but now where are they? What would be the things that they do say with the current market condition? Pretty sure that some of them had missed out some opportunity on accumulating but we do know that billionaires are those individuals who do really knows about investment and on what are those things which does have potential. They will really be that definitely be having that kind of decisions whether they will really be that silently investing into something despite of the negative words that they are really that saying.
And I wondered why Bitcoin price reaching $100K was his agitation in the market value that he has to be so empathetic like that as the said $100K is such an amount that received being wealthy which Bitcoin can not provide for its investors.
Clearly he was one of the critics who tends to sabotage the potential value of Bitcoin but he failed.
Perhaps... At 2019, Bitcoin struggled nearly to $20K so why should a $100K be his speculation?
Why don't him learn to dream gradually and accounting gradually increase of the market instead jumping to that margin of really he is studious that the market capitalization of Bitcoin is not in a scalability volume enough to such meet such market price if he was referring to the ahead 2021 bull-run.
Obviously he was just acting dramatic to make the public lost concern on Bitcoin was the strategy because he is one of them that hated Bitcoin because it is a decentralized blockchain technology.
Now Bitcoin has crossed $100K, hope he is now beneath battered with shame for his false speculations with the intentions of misleading the public.
On the contrary, he didn't have the guts to make a U-turn, just like what Michael Saylor did. We all know that Saylor was anti-Bitcoin in the beginning, but later he realized that he was wrong and so he not just publicly admitted to it, but he become one of the most bullish investors we have seen in the last couple of years.
But in this case, Peter, regardless of how many times Bitcoin has proven him wrong, he still insists that it will no go to $100,000 and yet we have unlocked it already. So it's question on his personality and for sure Bitcoin enthusiast have trolled him again and again with that kind of statement.
Well, he's made some bad judgements with Bitcoin the past few years, nothing too new there lol. And this is all in hindsight speaking imo. Price back then was 4 digits ish, I reckon a large majority also didn't really expect Bitcoin to hit 100k. I didn't really give a crap about prices back then, just generally knew Bitcoin was a good investment. Whether it hit 100k or not wasn't really a thing I had in my mind (and pandemic happened so I did eventually sell though lol).
And I doubt him being wrong damaged him that much. He's still got the bucks.
What don't you like about his phrase? Everyone pays attention only to the 2nd part of his post. He said it right, "keep dreaming". The BTC-community dreamed together and this dream came true.
There were and will be BTC-critics. No, he doesn't regret it, but hates bitcoin because it has become more expensive to $100,000. He is burning with hatred.
Bitcoin has been creating this potential for 10-15 years now. You've missed all the fun.
I set a new goal. It's 1BTC=$1,000.000. But this will not happen very soon.
Really - I don't really know that previously Michael Saylor was one of the people who did not support bitcoin, but it is true that today we have the fact that Michael Saylor is one of the most optimistic investors and holders of bitcoin. I can't expect Peter Schiff to change his viewpoint on bitcoin - I think it's best to leave him to his own mindset and beliefs. After all, this will not have much effect on people's confidence and interest in bitcoin, in fact since Trump was elected President I think interest in bitcoin has grown.
We are in a great bullish phase in bitcoin history - of course because so far $100K is in hand. Some previously skeptical people may have started to embrace bitcoin - but whoever hates it, let them be. There's nothing to explain - ignore them.
Peter Schiff has never been optimistic about bitcoin, not even now when bitcoin achieved $100k. So its nature for him not to convince people into bitcoin, but in fact criticize bitcoin and discourage the people from taking such risk. However, Ive come to understand this because hes an advocate and a promoter of gold and silver, so thats probably the reason.
But bitcoin has proven its value and potentials throughout the process. And we dont need influencers to prove that, bitcoin alone has proven its own worth and value in the market.
His son however is stacking BTC. This is sort of a team work, father and son. Peter the father keeps the fud and his son keeps buying BTC.
Peter as far as I know is the only guy who has time to really go into debating against BTC, its really interesting why he would be doing it when in fact its a waste of time for him. But this old man just stop for nothing just to express his opinion.
But I would agree about his opinion on Gold and Silver though. Which I guess the old school investors agrees to him as well.