Peter Schiff Admits He Was Wrong About Bitcoin

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Thu, 04/01/2021 - 15:27
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Alex Dovbnya
Peter Schiff finally admits that he was wrong about Bitcoin, but he is not fooling anyone
Peter Schiff Admits He Was Wrong About Bitcoin
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In what appears to be a predictable April Fools' joke, Peter Schiff, the most prolific Bitcoin hater, has taken to Twitter to declare that he was wrong about the cryptocurrency all this time.

Schiff
Image by @PeterSchiff

The gold bug has been bearish on Bitcoin since June 2011 when it was trading at just $31.

As reported by U.Today, Schiff admitted that not getting into Bitcoin in its early days was "a mistake" last May, but he continued to insist that the novel digital asset had no fundamental value. Those who paid heed to his advice ended up missing out on 544 percent gains.

The Euro Pacific Capital CEO has already become a valuable counter-indicator for the cryptocurrency, with his tweets ironically marking local bottoms.

Related
Burrito Giant Chipotle Teams Up with Former Ripple CTO to Give Away Free Bitcoin

Beware of April Fools' jokes

With every tech company trying to be funny on April Fools' Day, crypto projects were no exception.

Litecoin, for instance, has just announced its rebranding into "BitcoinLite."

Meanwhile, Teletubbies announced the TubbyCoin, BigHugs, developed by WildBrain Labs. Yesterday, the colorful quartet became relevant for the first time since the early 2000s after tweeting about Bitcoin.

Tesla CEO Elon Musk also made an announcement about putting Dogecoin on the moon...but there's a good chance he was being serious.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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