Bitcoin-sceptic and gold advocate Peter Schiff, in an interview with Coin Stories, acknowledged that the price of the first cryptocurrency could rise to $100,000 and that he regrets not buying the asset in 2011.
The entrepreneur said that a rise to $1 million is quite possible, but made clear that he still considers the asset a bubble. In his view, the coin will never become a widely accepted means of payment, and the only use for it would be speculation.
Schiff did not dispute the fact that the first cryptocurrency has been among the most lucrative assets in dollar-denominated price growth since its inception. He also expressed regret that he did not invest in Bitcoin in 2011 when he first learned of it.
When asked about his disappointments in finance, the president of Euro Pacific Capital replied:
“Obviously, I would have liked to buy Bitcoin when I first heard about it — that would have been a serious mistake. Could I have invested $100,000 in it? Of course. I mean, I invested that money in other things that turned out badly.”
According to Schiff, he could have become one of Bitcoin’s billionaires, having learned about the asset at an early stage.
“If I could go back in time, I would do it,” — added the entrepreneur.
Earlier, Schiff congratulated those who managed to invest in Bitcoin before the price surge, and prompted Wall Street to succumb to “this mania”.
In April 2021, his son Spencer moved 100% of his investment portfolio into the first cryptocurrency.
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