Peter Schiff has once again criticized Bitcoin, claiming it represents a dangerous financial illusion and its collapse is inevitable.
Peter Schiff's Criticism of Bitcoin
According to Peter Schiff, Bitcoin is not only a speculative asset but a dangerous one. Schiff asserts that each market dip brings us closer to the end of a financial illusion.
Personal Financial Issues
Schiff is currently dealing with personal financial problems as his Panama-based Euro Pacific Bank was shut down following regulatory scrutiny. Schiff claims political interference is to blame, rather than real legal issues.
Impact on Crypto Market
Bitcoin recently slipped below its 200-day moving average, dropping over 2% in just four hours. This led to liquidations worth $93.2 million across the crypto market, primarily affecting long positions.
Peter Schiff's stance on Bitcoin remains unchanged, and he continues to see it as a threat to financial markets and investors.
