Peter Schiff Launches Gold ordinals Priced with Bitcoin
In what seems like irony, prominent Bitcoin (BTC) critic Peter Schiff is demanding payment in BTC for the newly launched gold lines.
Is Peter Schiff Changing His Stance on Bitcoin?
On Wednesday, Peter Schiff encouraged his followers to buy the “Golden Victory” Bitcoin Ordinals with their “overpriced” Bitcoin.
These Ordinals are collaborative, non-fungible token (NFT) art collections on the Bitcoin network that it introduced last year. He tried to argue that Ordinals were more important than Bitcoin, arguing that only 50 pieces could be acquired from digital collectibles, compared to a supply of 21 million Bitcoins.
His post sparked backlash from members of the crypto X community, and Blockstream CEO Adam Back also chimed in.
Back tried to give it a taste of its medicine by pointing out how Bitcoin demonetizes Gold in general. Bitcoin ETF stated how inflows outweighed gold ETFs in the past weeks.
Despite criticism of Peter Schiff’s assets Back generally supportive Bitcoin Ordinals.
Peter Schiff and Bitcoin Criticism
Over time, Peter Schiff has constantly criticized Bitcoin, attaching all kinds of labels to the leading digital assets.
After this Launch of spot Bitcoin ETFshey clearly described Flagship cryptocurrency as a failed digital asset with emphasis on its speculative nature. He also claimed that the US SEC’s approval of several Bitcoin ETFs was not enough to prove the coin’s legitimacy.
Schiff in the days following Spot Bitcoin ETF approval guess He said Bitcoin will have a hard time. Coincidentally, BTC’s price was also gaining terrible momentum during the same period. As the coin’s market value continues to decline, Peter Schiff noted that those who first invested in these Bitcoin ETFs will likely face regret.
However, Bitcoin price soon recovered, reaching new highs not seen in a long time and even retesting the All Time High (ATH) recently. As someone who likes to weigh in on cryptocurrency-related topics, Schiff was quick to tell his community that Bitcoin’s rise is nothing more than this: “Another classic pump and dump“.
It can be believed that his attitude towards Bitcoin and other cryptocurrencies has changed with his recent demand for Golden Ordinals. The coming days will be the real ‘revealer’ of how Schiff feels about the flagship cryptocurrency.
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Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about real-life applications of blockchain technology and innovations to ensure mainstream acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain-based media and sites. Benjamin Godfrey is a lover of sports and agriculture. follow him excitementLinkedIn
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