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Peter Schiff once called Bitcoin a ‘pure ponzi’ now wishes he bought somecointelegraph.com/news/peter-schiff-called-bitcoin-pure-ponzi-now-wishes-he-bought-some
12 sats \ 4 comments \ @Bitman 14 Mar bitcoin freebie
“Do I wish I had made the decision to have thrown $10,000, $50,000, $100,000 into it? Sure,” said Schiff, adding:
“I may be worth hundreds of millions assuming I didn’t sell but again I don’t know what I would have done had I made that decision.”
Just months earlier in a Nov. 29 interview with Yahoo Finance, Schiff referred to Bitcoin as a “pure ponzi’ that has no underlying value:
“Bitcoin is a pure ponzi, it's a pyramid, the demand for Bitcoin is based on the belief that you can sell it to somebody else at a higher price.”
However, in his latest interview, he reveals he seriously considered buying Bitcoin in 2010 when it was around $1. However, he ultimately decided against it, concluding the potential investment was “ridiculous.”
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0 sats \ 0 replies \ @netstatic 15 Mar
Bitcoin is a pure ponzi, it's a pyramid, the demand for Bitcoin is based on the belief that you can sell it to somebody else at a higher price.
Schiff is interesting because I can tell he understands some parts of Bitcoin, but never know how much he actually knows. I wonder if subconsciously he sees the value in Bitcoin but needs to take the opposing side to avoid the cognitive dissonance it would bring from being a gold bug for so long. Unfortunately he's attached his identity to gold instead of to the idea of finding the best manifestation of a scarce asset free of government control.
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0 sats \ 0 replies \ @harrr 14 Mar
Who cares, he would have sold at $2, he still doesn't understand bitcoin.
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0 sats \ 0 replies \ @co574 14 Mar
Peter is not bright. Peter is sad. so what?
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0 sats \ 0 replies \ @Bitman OP 14 Mar
Just ran out of time to add better context.

Peter Schiff once called Bitcoin a ‘pure ponzi’ now wishes he bought some

Gold proponent Peter Schiff, a known Bitcoin critic, now says he wished he had bought Bitcoin in 2010 when a work colleague first introduced the cryptocurrency to him.
Speaking in a March 13 interview on Impact Theory with Real Vision co-founder and CEO Raoul Pal, Schiff hinted he missed the early boat on Bitcoin. 
“Do I wish I had made the decision to have thrown $10,000, $50,000, $100,000 into it? Sure,” said Schiff, adding:
“I may be worth hundreds of millions assuming I didn’t sell but again I don’t know what I would have done had I made that decision.”
The interview involved a debate from Pal and Schiff over whether Bitcoin is on a trajectory toward $0 or $1 million.
Just in case you didn't see me politely hang, draw and quarter Peter Schiff, enjoy https://t.co/vr1efNJw3p
— Raoul Pal (@RaoulGMI) March 14, 2024
Just months earlier in a Nov. 29 interview with Yahoo Finance, Schiff referred to Bitcoin as a “pure ponzi’ that has no underlying value:
“Bitcoin is a pure ponzi, it's a pyramid, the demand for Bitcoin is based on the belief that you can sell it to somebody else at a higher price.”
However, in his latest interview, he reveals he seriously considered buying Bitcoin in 2010 when it was around $1. However, he ultimately decided against it, concluding the potential investment was “ridiculous.”

Still, it doesn’t mean Schiff likes Bitcoin

Schiff claims if he did buy Bitcoin he would have “kept quiet” he has never, and still doesn’t believe in its fundamentals.
“I would have bought it just betting on other people being dumb enough to buy it and pay a higher price.”
Schiff added that a successful Bitcoin investment would have made him feel more like a “genius” than a “gambler” and therefore, he would’ve fallen under the same “delusion” as Bitcoin investors, which he later described as “greedy” and “foolish.”
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