2024

Bitcoin

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Peter Schiff, a gold bug who is widely known for his skeptical views on Bitcoin, has <a href="https://twitter.com/PeterSchiff/status/1765384560366211175" rel="noopener noreferrer nofollow">stirred</a> the cryptocurrency community by actively promoting a unique set of Bitcoin NFTs known as Golden Triumph ordinals.&nbsp;
This development has left many wondering if Schiff, a long-time critic of the digital currency, has changed his stance or is merely capitalizing on the burgeoning interest in non-fungible tokens (NFTs) on the Bitcoin blockchain.
<h2 id="schiff-s-sudden-embrace-of-bitcoin-ordinals">Schiff's sudden embrace of Bitcoin ordinals</h2>
At the core of this controversy lies the innovative concept of Bitcoin ordinals, a system that allows for the embedding of digital content onto individual satoshis on the Bitcoin blockchain.&nbsp;
They offer a new way to utilize the Bitcoin network beyond its original design as a peer-to-peer electronic cash system.&nbsp;
Through a series of posts, <a href="https://u.today/peter-schiff-slams-bitcoin-elevator-up-then-a-jump" rel="noopener noreferrer nofollow">Schiff</a> announced the sale of six Golden Triumph ordinals, emphasizing their scarcity and potential for significant value appreciation.&nbsp;
With sales already underway and prices for these ordinals quickly going up, Schiff's promotion has ignited a flurry of activity and speculation within the cryptocurrency community.&nbsp;
The rapid sale of these items, at prices ranging from $4,500 to nearly $10,000, has allegedly displayed high demand, according to Schiff.&nbsp;
<blockquote>
 One thing you can do with your overpriced <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> is buy one of six Golden Triumph ordinals currently offered for sale. If you think 21 million Bitcoin are scarce, there are only 50 of these babies. Get ready <a href="https://twitter.com/hashtag/HOLDers?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#HOLDers</a>. These bad boys are going to moon.💎🤲🏻<a href="https://t.co/SPJSbv1ut5" rel="noopener noreferrer nofollow">https://t.co/SPJSbv1ut5</a>— Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1765384560366211175?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 6, 2024</a>
</blockquote>
<h2 id="skepticism-and-accusations-of-hypocrisy">Skepticism and accusations of hypocrisy</h2>
The cryptocurrency community's reaction to Schiff's promotion has been a mixture of skepticism, accusations of hypocrisy, and outright disbelief.&nbsp;
<blockquote>
 Is Peter…. Shilling Bitcoin?— Tyler Strejilevich (@TylerSCrypto) <a href="https://twitter.com/TylerSCrypto/status/1765387640155631629?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 6, 2024</a>
</blockquote>
Many are questioning Schiff's motives, wondering if he has covertly invested in Bitcoin despite his public criticisms.&nbsp;
The promotional activity has led to a barrage of comments from various quarters, including humorous jabs, outright accusations of scamming, and calls for transparency regarding Schiff's actual stance on Bitcoin.&nbsp;
The situation has fueled a debate over the credibility of vocal Bitcoin critics who engage in seemingly contradictory activities.

Peter Schiff Accused of Promoting Bitcoin

Table of Contents

U_Today

Other articles published on Mar 6, 2024

Market Sentiment Index Explainer 1 - How to Read Crypto Trends

Crypto vs SEC: Can Robert F. Kennedy Jr Influence SEC’s Approach to Crypto?

Macro Guru Raoul Pal Warns Leveraging In '70 Vol Asset' Is A 'Ticket To Bankruptcy' Amid $1B Cryp...

Spain Announced It Banned This Altcoin, Price Reacted!

New Cryptocurrency Releases, Listings & Presales Today – RABI, Taτsu, Devomon

Bitcoin and Ethereum React to US Job Openings Report

Join our free newsletter for daily crypto updates!