- Schiff has been outspoken about his disapproval of cryptocurrency.
- Investors are worried about the future and desperate to see a rebound.
Despite his position as Euro Pacific Capital’s chief economist and global strategist, Peter Schiff isn’t hesitant to take on the pro-Bitcoin proponent’s front. And it’s evident that many people are interested in what he says about investing, as seen by his more than 743,000 followers on Twitter.
Schiff Being Bold and Precise
Schiff has a lot to say on the current status of crypto in general, as one could expect. Even if he has predicted a gloomy future for certain investors, he said it again yesterday and early the next morning on June 13 to explain. Schiff began tweeting early on June 13 about his opinions on the recent losses in both bitcoin and ethereum. CNBC’s coverage of the crypto market, particularly in light of the crypto market, has been criticized by Schiff.
Now that #Bitcoin has collapsed below $20K and #Ethereum below $1K, at least one person on @CNBC should apologize to their viewers for all the one-sided coverage and bad investment advice. As Bitcoin plunged 73% and Ethereum 83%, CNBC pumped #crypto non-stop the entire way down.
— Peter Schiff (@PeterSchiff) June 18, 2022
Once Schiff gets to comparing crypto to outer space, he also points out that Bitcoin’s pom-pom-wielding cheerleaders have already arrived. Furthermore, he referred to Binance’s halt. Schiff also remains true to his character when calling out what he perceives as being fake and takes another swipe at CNBC.
Since its inception, Schiff has been outspoken about his disapproval of cryptocurrency. His latest barb was directed at CNBC, who requested to apologize to their viewers for their biased reporting and bad investment advice after Bitcoin and Ethereum fell below the $20K and $1K mark, respectively. Throughout Bitcoin’s 73 percent and Ethereum’s 83 percent declines, CNBC constantly promoted crypto non-stop, as per Schiff.
The crypto market has been performing poorly, with almost every currency losing more than half its all-time high. Investors are worried about the future and desperate to see a rebound.
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