Bitcoin hater Peter Schiff says Bitcoin value will be in millions, if….

Peter Schiff shared a very strange hypothetical concept around Bitcoin (BTC) but overall he criticized Bitcoin indirectly.

Peter Schiff is a popular Bitcoin hater. Usually, he never misses chances to criticize Bitcoin. A couple of weeks ago, Schiff faced huge criticism from crypto enthusiasts for using the “Bitcoin” word in his tweets. 

On 29 May 2024, Peter Schiff talked about a hypothetical condition where all the US companies buy Bitcoin & pump BTC trade to millions of dollars.

Schiff said to imagine if all the publicly traded companies in the U.S. sold everything they owned, stopped doing business, and fired everyone. Then, they took all that money and bought Bitcoin. This would make each Bitcoin worth millions. The total value of U.S. stocks would skyrocket, making everyone very wealthy.

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What if all publicly traded U.S. companies sold 100% of their assets, closed down their operations, fired all their employees, and used the proceeds to buy #Bitcoin? Each Bitcoin would then be worth millions. The market capitalization of U.S. stocks would soar. We'd all be rich.

— Peter Schiff (@PeterSchiff) May 29, 2024

Many people responded & said that Bitcoin investors would become rich but he (Schiff) would not, as he was not holding Bitcoin. 

In response, Schiff said that he would also become rich because he holds stock assets of many US companies & oil companies, & those companies will be holding Bitcoin which will further pump the trade price of the company’s stocks. 

No I have a lot of money in U.S. oil stocks. Those stocks will go way up after they liquidate their operations and load up on Bitcoin. So I will be rich too.

— Peter Schiff (@PeterSchiff) May 29, 2024

Many people noted that Schiff seems ready to change his stance on Bitcoin. 

Some crypto people trolled Schiff and said that Bitcoin will show similar kinds of imagined future, so just wait & watch. 

Peter Schiff vs Bitcoin

In the past Schiff faced huge criticism from the Bitcoin community. Last week, many Bitcoin advocates noted that Schiff tweets about Bitcoin to get social media engagement. In short, Schiff makes money using the “Bitcoin” title in his tweets. 

Schiff dismissed such kinds of allegations & after that, he stopped talking more about Bitcoin. 

Read also: Ark Invest CEO meets El Salvador president to push more Bitcoin adoption via AI tech

Bitcoin hater Peter Schiff says Bitcoin value will be in millions, if….

 

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