Peter Schiff Expressed:  The SEC’s approval of a Bitcoin futures ETF is another reason to abolish the SEC. I have no objection to the ETF. My beef is that Bitcoin pumpers will now use the approval to sucker in more buyers based on the government’s supposed endorsement of Bitcoin by approving the ETF.

Now there’s a new way to gamble on Bitcoin. Anyone buying Bitcoin is gambling. But some gamblers don’t want to risk owning actual Bitcoin, so they gamble with Bitcoin futures instead. Now those who don’t want to risk buying futures contracts can gamble on a Bitcoin futures ETF.

Community response:  What price does Bitcoin need to be at to admit your wrong? I’m mean seriously this is getting old. I thought pro investors understand this.

Bitcoins price being high or low doesn’t change it being a Ponzi scheme. I’m into it, I’ve got quite a lot in various crypto projects. But that doesn’t mean I think any of it is real, it might be one day, but right now it’s just inflated on sentiment.

About SEC – This is the best tweet of the entire year for me!

People who listened to you and bought the yellow mineral you sell on your HTML website earned 0% appreciation in 8 years. People who called you stupid and Bought Bitcoin made 900000% return.

I’m sure at some point tulip mania was the highest return asset.

Biggest fraud in history, a systemic Ponzi that will take no prisoners once it breaks.  Heard this Ponzi scheme nonsense for years.  When is it going to happen? All you’ve done is lost opportunity to make a lot of money.

Dude when are you going to understand what Bitcoin is? Never? Sheesh. Wait until a million then you’ll be buying in /forced to.

I know this is foreign to people who only buy ponzi schemes but the fund pays a dividend. Yield is what matters not just the price. An asset is worth what you can take out of it, not just what price you can convince someone else to buy it.

He doesn’t dislike Bitcoin as an asset; he’s leveraging the popularity of BTC to get attention by hating on it. Free attention sells books and speaking jobs. It’s so obvious, please stop arguing with this player.

People most negatively affected by fiat printing and subsequent inflation deciding to protect their money by investing in an asset with a fixed supply that has outperformed other asset classes and now has an ETF and major mining investment activity in the US?

How does it feel to have caused more people too lose out on generation wealth in human history, listening to your advise?

Well he was right. It will never hit 50k again.