- The vocal crypto critic confessed that he was kicking himself for missing the investment opportunity.
- He is not a believer, saying that Bitcoin has become a religion.
Bitcoin-critic Peter Schiff regrets not having bought Bitcoin for $10. He is sure that it is too late now – the ship has sailed.
Peter Schiff, a well-known financial expert and a vocal Bitcoin critic, admitted that he regrets not buying cryptocurrency while it cost $10. He voiced his disappointment on CNBC during debates with a co-founder of the crypto fund Morgan Creek Digital Anthony Pompliano.
“I’m already kicking myself, I had that opportunity, I could already be a billionaire if I had only bought it back then… I should have bought it when I first heard about it,” he said.
Meanwhile, he emphasized that he would not buy the cryptocurrency at this stage. Schiff also stressed that he still believed that Bitcoin had no value.
He is convinced that the first cryptocurrency is too volatile to be a medium of exchange. Moreover, it has become a form of religion where investors are blind to reality.
“When you’re in a bubble, you can’t see the bubble,” he added, also saying that Bitcoin has distinct characteristics of a bubble.
Apart from that, a financial expert is confident that Bitcoin will never return to its historical highs.
However, Pompliano is sure that an investor can have both Bitcoin and gold in a single portfolio. Moreover, it is short-sighted to support gold and deny Bitcoin, he added.
It was not the first time that Pompliano and Schiff were discussing cryptocurrency issues. So, earlier this year the co-founder of Morgan Creek Digital sent Shiff $100 in Bitcoin to get him to learn more about “digital gold.”