Peter Schiff: “BTC will not recover even if other assets start | ERC20 Official Crypto channel

Peter Schiff: “BTC will not recover even if other assets start to rise”

Cryptocurrency skeptic Peter Schiff took to Twitter to share his thoughts on the prospects for Bitcoin. He believes that the first cryptocurrency will no longer be able to return to its previous level. The economist also questioned the scarcity of bitcoin. He believes that despite the limited supply of BTC of 21 million coins, it cannot be called the most desirable asset in the world.

“Bitcoin is not a financial asset. This is a collectible digital token. As long as people are stupid enough to buy bitcoin, its value will rise. There are many fools in the world, but unfortunately there are few left for Bitcoin holders who want to buy this cryptocurrency. The bitcoin bubble has already burst, and collectors will sell it, no matter what happens in the financial market,” wrote Schiff.