Bitcoin

Rise

After the news that a stock exchange called Wall Street-backed EDX Markets will be established, BTC enemy Peter Schiff published a statement on Twitter, as the price of Bitcoin rose from $ 26,500 to over $ 28,000. 
He argued that the new exchange would not create long-term demand for Bitcoin and would only offer more ways for speculators to gamble with the volatile asset: 
<blockquote> 
 “Bitcoin has hit over $28,000 today on news that Wall Street firms have created a new exchange that will allow speculators to trade crypto via brokerage accounts. I doubt there will be much demand for this exchange in the long run. More ways to gamble with BTC will not add value to Bitcoin.” 
</blockquote> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> surged above $28K today on news Wall Street firms are creating a new exchange that will allow speculators to trade <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> though their brokerage accounts. I doubt there'll be much long-term demand for this exchange. More ways to gamble with Bitcoin don't give it value. 
 — Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1671228339514638339?ref_src=twsrc%5Etfw">June 20, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Schiff has been disliking BTC for years, claiming that Bitcoin has no real value, is a bubble waiting to burst, and is inferior to gold as a store of value and protection against inflation. 
BTC supporters, on the other hand, celebrate the launch of EDX Markets as a sign of growing mainstream adoption and recognition of the crypto space. 
*Not investment advice. 
The post <a rel="nofollow" href="https://en.bitcoinsistemi.com/a-statement-from-peter-schiff-after-the-rise-in-bitcoin-he-evaluated-the-reason-for-the-rise/">A Statement From Peter Schiff After The Rise In Bitcoin: He Evaluated The Reason For The Rise!</a> appeared first on <a href="https://en.bitcoinsistemi.com">Bitcoin Sistemi</a>

A Statement From Peter Schiff After The Rise In Bitcoin: He Evaluated The Reason For The Rise!

Bitcoin Sistemi EN

Other articles published on Jun 20, 2023

El Salvador Forges Ahead with $1 Billion Bitcoin Mining Operation

Is XRP Becoming World's Leading Platform for CBDCs?

Deaton Says this Information May Determine Whether Ripple Execs Sold XRP as a Security

This 5 Artificial Intelligence Coin Could Soon Skyrocket!

Stellar is one of the top 3 fastest blockchains in existence

Unleashing Compliant Fundraising and Identity Verification on the Arbitrum Ecosystem

Join our free newsletter for daily crypto updates!