Bitcoin bear Peter Schiff admits BTC could hit $100k


TL;DR Breakdown

  • Peter Schiff predicts BTC could hit $100k and even $1 million.
  • Schiff still negative on Bitcoin and crypto.

Popular anti-crypto economist and Bitcoin bear Peter Schiff admitted that Bitcoin price might eventually hit $100,000. Schiff noted that the coin is primed for another bull run.

He, however, maintained his negative stand against Bitcoin even though he claims to regret not buying some in 2011.

During an interview with Coin Stories, the Bitcoin bear made this revelation as he still maintained his bearish outlook on the crypto market.

Bitcoin bear, Schiff, and his gold haven

Schiff is very famous for many things in the finance industry. Schiff is always known to defend gold and speak negatively about Bitcoin and other altcoins within the crypto community.

Despite predicting a looming bull run for crypto, he still lashed at the digital asset maintaining his ever negative bias for the coin.

While speaking to Coin Stories, Schiff refuted claims that BTC would ever be employed as a means of payment by the mass population. BTC being used as a payment means is the ultimate goal for the crypto coin per its white paper.

Schiff also criticized AMC entertainment’s move to accept Bitcoin at its theaters. He said even bitcoin proponents, like Anthony Pompliano, don’t believe anyone would ever want to spend their holdings for tickets or popcorn.

He also spoke on the coin’s volatility, saying no landlord will decide to accept BTC for rent as its price goes up and down with massive proportions.

Schiff regrets not investing in crypto

Amidst the Bitcoin bear’s nay excuses on the crypto, he agreed the coin is among the top best performers in terms of USD price since its existence.

Bitcoin has provided over 8,0000 percent return on investment since the last decade. This point made Schiff admit he should have bought some portions of the asset when he first heard about it in 2011.

He then spoke about the coin’s potential to go as high as $100,000 or even $1,000,000 per coin.

Muhaimin Olowoporoku

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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