Long-time critic Peter Schiff is attacking the corporate rush into Bitcoin, calling it a speculative bubble
He points out that silver has quietly outperformed Bitcoin year-to-date, gaining ~25% vs. BTC’s 21.5%
His warning comes as a global frenzy of companies in the US, Japan, and Germany continue to buy crypto
Bitcoin’s meteoric rise to fresh all-time highs has ignited a corporate buying frenzy, but not everyone is celebrating. Peter Schiff, a long-time critic of Bitcoin, has once again raised concerns about the growing number of companies turning to crypto. He argues that these firms lack solid business models and instead rely on speculative hype.
Schiff described the current rush into crypto as a cycle of “fools chasing other fools,” where each wave of buyers simply hopes to offload their holdings to the next group at higher prices.
While Bitcoin bulls celebrate a record-breaking year, Schiff urges investors to shift their attention to silver, a commodity he believes offers more sustainable growth.
The logic behind Bitcoin or Ethereum treasury companies is to take advantage of foolish investors who are willing to pay larger premiums to buy stock …
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