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Crypto Hater Peter Schiff to Drop Bitcoin Ordinals NFT Art Collection
Despite his longstanding criticism of cryptocurrencies, particularly Bitcoin, Peter Schiff, an economist, gold proponent, and prominent crypto skeptic, has surprisingly announced the release of his collaborative non-fungible token (NFT) art collection based on Bitcoin. This move has generated mixed reactions within the crypto community, with some expressing confusion, amusement, and even pointing out the apparent hypocrisy. This article delves into the background of Peter Schiff’s stance on cryptocurrencies and explores the implications of his upcoming NFT art collection.
Peter Schiff’s Crypto Criticism
For years, Peter Schiff has been vocal about his disdain for cryptocurrencies, often referring to Bitcoin as a Ponzi scheme with no intrinsic value. He has questioned the legitimacy of the decentralized digital currency and its potential as a long-term investment. Schiff’s criticism revolves around his belief that cryptocurrencies lack the backing of physical assets, unlike gold, which he has been an avid proponent of.
In addition to his criticism of Bitcoin, Schiff has also been dismissive of non-fungible tokens (NFTs). Just two years ago, he claimed that NFTs were worthless and easy to replicate, questioning the rationale behind their popularity. His…
