Gold Bug Peter Schiff’s Message to Bitcoin HODLers: “Don’t Get Cocky”

On Wednesday (May 18), famous gold bug and cryptocurrency skeptic Peter Schiff expressed surprise at how well the Bitcoin price is holding up (despite all the various macro headwinds and the recent collapse of the Terra ecosystem).

Peter Schiff is the CEO of Euro Pacific Capital, a full-service, registered broker/dealer specializing in foreign markets and securities, and founder and Chairman of SchiffGold, a full-service, discount precious metals dealer. 

On Wednesday, Schiff said on Twitter that he was surprised that Bitcoin was holding up “this well”, and warned crypto investors that it quite likely that “this is a bull trap” and that the Bitcoin price is headed quite a bit lower. Crypto influencer and Founder of investment firm Pomp Investments Anthony Pomplianao (aka “Pomp”) replied to Schiff, telling him that Bitcoin would “continue to surprise” Schiff since it is “incredibly important to the world right now.”

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The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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