Schiff's criticism will not deter Bitcoin enthusiasts
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Bitcoin is neither strategic nor appropriate as a treasury asset. Companies shouldn't flat out gamble with shareholder's funds. They should pay dividends and let shareholders gamble with their own money.However, not everyone shares Saylor's enthusiasm. Schiff, a vocal Bitcoin critic and gold advocate, quickly responded with his usual skepticism. In a pointed tweet, Schiff,"Bitcoin is neither strategic nor appropriate as a treasury asset.
Over the weekend, Schiff was taken aback when 87% of the over 11,000 Bitcoin holders who replied to his X poll claimed they would not sell any of their Bitcoin even if the price fell by more than 99% to $120. They said not only that they would not sell but that they would continue to buy even when prices fell.Schiff unexpectedly revealed that"the main sell point for investors to buy Bitcoin is its great track record of past performance.
At the time of writing, Bitcoin was trading at $66,067, having reached all-time highs of nearly $74,000 in mid-March. Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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