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Peter Schiff, CEO and chief global strategist at Euro Pacific Capital, argues that individuals who sell their Bitcoin are making money while those who purchase it will likely face losses.
Schiff suggests that recent profits in the Bitcoin market are benefiting sellers, not buyers.
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Schiff previously commented on rising government debt, noting when the 30-year Treasury yield climbed above 5.3 percent as U.S. national debt surpassed $39.9 trillion. He has also responded to scrutiny of his Euro Pacific Bank following its forced shutdown and receivership. These recent statements add to his ongoing public commentary on financial and regulatory developments.