Peter Schiff: “I am sorry, that I didn't buy bitcoin in 2011 year " – Bits Media

Gold investor Peter Schiff suggests, that BTC could skyrocket to $100 000 and regrets, that I didn't buy it in 2011 year. At the same time, Schiff remains skeptical about Bitcoin..

In an interview with Coin Stories, Schiff said, which is still very cautious regarding bitcoin. The cryptocurrency skeptic is not sure, that BTC will ever be used as a payment means. He mentioned the recent decision of the American AMC Entertainment Cinema operator to accept BTC to pay for tickets. According to Schiff, Even Bitcoin supporters are unlikely to want to spend it on tickets or popcorn.

Besides, The economist said, that bitcoin will be unsuitable even in the lease, Since no tenant will dare to accept cryptocurrency, If its price can grow sharply or collapse. Therefore, the only value of bitcoin is, that with its help people can earn on market speculations.

Shiff took the opportunity, To once again emphasize the advantages of gold, which can be used for different purposes: presenting medals at the Olympic Games, creation of electronics and even in the space industry. Since ancient times, gold has been used as a means of payment, And this can be considered another advantage of it over bitcoin, Added shiff.

Despite this, He recognized, that bitcoin has become one of the most profitable assets since its appearance. According to Schiff, Over the past decade, the profitability of investment in bitcoin has been 8 900 000%, which significantly exceeds gold indicators. Schiff allows, that bitcoin can demonstrate impressive growth, Having reached $100 000, and in the distant perspective and completely approach $1 000 000. 

However, Schiff claims, that the growth of the first cryptocurrency to such marks will indicate, that bitcoin and “bubble” can be considered synonyms. However, the economist reluctantly recognized, that he should have purchased bitcoin, When he first heard about him in 2011 year.

"I'm sorry, that I didn't buy bitcoin, When I first learned about him. I made a serious mistake. I could buy cryptocurrency for $100 000, But I invested this money in another, which turned out to be not quite a successful investment. But now I could become a cryptocurrency billionaire. If I could return to the past, I would do it ", - said Shiff.

The economist begins to radically change his opinion about the first cryptocurrency. Last year, he approved, that in ten years investing in bitcoin will depreciate, and the BTC course will not be able to stay higher $9 000.