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Peter Schiff: Bitcoin price falls 30 percent from last year’s high
Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Capital, said he is watching the Bitcoin conference from home this year. Last year, Schiff told attendees to sell when Bitcoin was trading near 110K. Now, he points out that Bitcoin trades at 76K, marking a 30 percent decline year-on-year. Last year’s focus was on treasury companies buying Bitcoin near the peak, while this year he flags digital credit as the new area of speculative hype, predicting it will soon face a significant downturn.
Schiff has previously focused on gold investment, launching the Schiff Gold App to facilitate physical precious metals delivery. He also commented on U.S. economic policy, stating that increased government spending and a larger Federal Reserve balance sheet contributed to inflation during the Trump administration, according to prior remarks. His recent comments continue a trend of skepticism toward both digital assets and mainstream fiscal policy.
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