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Peter Schiff Shared: All the talk about institutions investing in Bitcoin mostly talks. Very few took positions and most that did will likely exit by year-end. Those that never got on board will be thankful they dodged the bullet, while those that did and got burned will be out for good.
Community Response: These statements will make you look foolish a few years from now. Judging long-term investments based on short-term price action.
Well, so far, those institutions that bought in during 2021 have suffered large losses. 2022 looks like it will be even worse. That’s long-term for most managers, who are often judged on quarterly or annual performance.
Those who did not overextend and view it as a long-term wealth accelerator will be rewarded. What use does the average blue-collar have for gold?? Honestly, how does it apply to someone who isn’t buying/selling jewellery, or someone who doesn’t invest in the market?
Whales are the ones benefitting the most. Bitcoin had good intentions but then greedy human beings FED it up. Humans always F things up.
They’re coming in the same way they have every other time it’s pumped. They’re doing you a favor. Drive the get rich quick out with volatility, so we can have real progress. What’s happening now is healthy, as much as it hurts.
Peter Schiff in all honesty can you tell me why my gold position is down 8% and my silver position is down 18% since 2020? Not a troll, honestly asking. I hold both sides of this debate.
Investors sell metals in anticipation of the Fed’s tightening cycle. Soon metals will rise either in anticipating the next easing cycle or when they realize that the current tightening cycle will be too little, too late to bend the inflation curve.
PS is “in love” w/btc, like that teenage boy who is always throwing heat to that teenage girl that won’t give him attention. Only w/a grown man it’s bizarre. Ok, you don’t like BTC – no need to beat the pt 2 death.
You should watch “Cryptopia” on Amazon Prime. They show a cold storage bunker in Switzerland where billions in Bitcoin are held for people who have no intention of ever selling. When I saw that, it hit home. Bitcoin is not a FAD or a bubble. It’s here to stay Peter.
People have been doubting for 12 years now? Crypto & blockchain is here to stay. Bitcoin and other coins are going to keep spreading. Got to accept it. The tech being developed is too valuable for society to ignore. They solve real-world problems if only you did research.
Google smart contracts. It is being applied in disruptive manors across various industries from AI, Fintech, Media, etc. NFT’s are being used for actual use cases across supply chains for management (forget art). Governments are using it for identity verification solutions. N more.
And you think governments using it for identity verification or a positive thing? Do you understand what crypto is all about? It doesn’t appear so. As to the rest of your claims, they are gobbledygook.
I am fully aware of what crypto was intended for initially. It has been evolving rapidly. Decentralization is important for many crypto users, however, blockchain and tokenization are growing within the crypto world for many different types of use cases.
People think bitcoin will take out central banks when in reality it is the policy of excess printing of fiat that gave birth to bitcoin. People have short memories and get driven by hype.
Bitcoin hate runs through your veins, ouch. And, we see that it captivates much of your daily thoughts. You do more for BTC awareness than you realize, thanks!
