Prominent Bitcoin critic Peter Schiff and advocate for gold, has once again expressed his skepticism toward Bitcoin, following Michael Saylor’s bold prediction that it could reach $13 million per coin within the next 21 years. Schiff, who has long questioned the viability of cryptocurrencies, described Saylor’s prediction as unrealistic and challenged the long-term sustainability of Bitcoin’s demand.
Peter Schiff Criticizes Bitcoin’s Limited Supply Argument
In a recent post on X (formerly Twitter), the Bitcoin critic Peter Schiff has addressed the argument regarding BTC’s limited supply. He acknowledged that while the cryptocurrency is scarce, this scarcity alone does not guarantee rising prices. He pointed out that its price is highly dependent on new buyers entering the market. According to him, without new demand, prices could drop, as sellers may outnumber buyers, leading to a price crash.
Yes, #Bitcoin has a limited supply. As long as more people want to buy it, but thos
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