RATE Group | Bitcoin Critic Peter Schiff Admits to BTC Profitability
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Bitcoin Critic Peter Schiff Admits to BTC Profitability

19 Feb Bitcoin Critic Peter Schiff Admits to BTC Profitability

Posted at 08:25h in Cryptocurrency News by

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As BTC enters another rally, gold bug and long-time Bitcoin critic Peter Schiff finally admitted that owning the asset can be extremely profitable. Given the returns over the last decade such a conclusion should be obvious.

Bitcoiners “Make a Lot of Money”

Outspoken cryptocurrency skeptic Peter Schiff “conceded” that Bitcoin has represented a successful investment opportunity for over the past ten years, he said in a recent tweet. His remarks come after holding 0.21 BTC that were donated to him through a crypto community wide campaign last year.

“I concede that anyone who bought Bitcoin 10 years ago and sells it today will make a lot of money.  But I never said the price of Bitcoin could not rise. I only said that Bitcoin would never succeed as money. Nothing that has happened over the past 10 years has proven me wrong,” said Schiff.

As of today, Bitcoin has a year-to-date return of 164%. Exponential price appreciation may have persuaded the skeptic.

As part of a…

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