cryptopolitan.com
والطريقة الوحيدة التي قد يتمكن بها الملايين من الناس من التظاهر بأن لا شيء هو شيء، ثم يتظاهرون بأن لا شيء يساوي تريليونات الدولارات، هي رفض بيعه. إذا رفض أصحاب #HODL بيع #البيتكوين الخاصة بهم، فماذا حققوا؟ التظاهر بالثراء ليس مثل الثراء.
— بيتر شيف (@PeterSchiff) 19 نوفمبر 2024
Schiff mainly criticized HODLing, a famous concept in the crypto community. With the increasing value of Bitcoin, crypto users are refusing to sell their holdings of the asset despite the usual unpredictability of the market.
The chairman of Schiffgold said that although the cryptocurrency does not produce actual value like gold, it has still reached the valuation of trillions of dollars. According to him, Bitcoin has no real value. It is rather an illusion sparked by collective perception turning “nothing into something”.
A user @CallahanAutoCo argued that his critique could be applied to gold as well since “If everyone sold all their gold, how much would gold be worth?”. In reply, Schiff asserted that its impossible for everyone to sell gold since it has practical uses in industries and is an essential good.
Previously, Schiff also referred to Bitcoin as Trump-inspired mania which is rather shortlived and consists of economic weaknesses which would soon undo the positive perception for the top crypto asset.
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