Peter Schiff Doesn’t ‘Hate Bitcoin’ But Warns ‘Millions’ Will Lose More Than They Can Afford In ‘Speculative Mania’
Posted On January 8, 2025
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 …
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