Gold advocate and longtime Bitcoin critic Peter Schiff has admitted his biggest regret is missing the chance to invest in Bitcoin early. In a surprising turn, Schiff confessed on X, “I regret not buying it when I first learned about it,” following Bitcoin’s recent surge above $110,000.
Although Schiff has consistently advocated for gold as a more secure investment, his recent remarks suggest a slight change, despite his continued caution about Bitcoin’s volatility. He acknowledged Bitcoin’s unexpected growth but remains firm that gold is more reliable in the long run.
Max Keiser, a well-known Bitcoin evangelist and filmmaker, didn’t miss the chance to comment. He mocked Schiff for ignoring his advice to buy Bitcoin at $1, $10, $100, and even $10,000. Keiser called him the “WORST MONEY MANAGER EVER!” and criticized his past decisions, including opening a bank in Puerto Rico.
This sparked significant excitement in the cryptocurrency space. Data from Glassnode shows that long-term holders (LTHs) are generating record profits of up to $930 million per day in net profit while also increasing their Bitcoin holdings.
This behavior is unusual, as LTHs usually sell during profitable peaks. Experts suggest that this new trend is being driven by ETF-driven accumulation and institutional interest.
Schiff, nevertheless, comes down on the side of gold even though he has regrets. Yet his latest remarks show that even the most bearish of Bitcoin observers cannot deny that its emergence is too substantial to be overlooked.
Also Read: Where’s Bitcoin? Peter Schiff Cheers as Gold Outpaces Euro Reserve
