Peter Schiff Doesn’t ‘Hate Bitcoin’ But Warns ‘Millions’ Will Lose More Than They Can Afford In ‘Speculative Mania’

Economist and market commentator Peter Schiff has issued a stark warning about the current speculative frenzy surrounding Bitcoin (CRYPTO: BTC), asserting that millions of investors will lose sums far greater than they can afford.

What Happened: Schiff sought to highlight his concern about the misallocation of capital, and how the speculative mania around cryptocurrencies will damage the image of sound money principles.

In a tweet on Wednesday, Schiff stated that he does not “hate Bitcoin itself,” but is deeply concerned by “the speculative mania in Bitcoin that has caused a huge misallocation of capital.”

He believes this frenzy will ultimately lead to “millions” losing “sums far greater than they can …

Full story available on Benzinga.com