{"id":38185,"date":"2021-03-02T12:59:38","date_gmt":"2021-03-02T10:59:38","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=38185"},"modified":"2025-08-30T03:24:20","modified_gmt":"2025-08-30T00:24:20","slug":"peter-schiff-investors-were-foolish-enough-to-buy-bitcoin","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/peter-schiff-investors-were-foolish-enough-to-buy-bitcoin\/","title":{"rendered":"Peter Schiff: Investors were foolish enough to buy Bitcoin"},"content":{"rendered":"<p>Bitcoin sceptic and gold bug Peter Schiff congratulated those who bought Bitcoin early before its surge and forced Wall Street to yield to &#8216;this mania&#8217;.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Congratulations to those who bought Bitcoin early, pumped up the price, and who\u2019ve been dumping into the hype. You succeeded in getting Wall Street to buy into the mania. When I first learned about <a href=\\\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Bitcoin<\/a> I didn\u2019t think smart investors would be dumb enough to buy. I was wrong.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\\\"https:\/\/twitter.com\/PeterSchiff\/status\/1366484514294349830?ref_src=twsrc%5Etfw\\\">March 1, 2021<\/a><\/p>\n<\/blockquote>\n<blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><br \/>\n&#8220;When I first heard about Bitcoin, I did not think smart investors would be dumb enough to buy Bitcoin. I was wrong,&#8221; Schiff wrote.<\/p>\n<\/blockquote>\n<p>In March 2020, the gold advocate spoke unfavourably about the intelligence of cryptocurrency investors.<\/p>\n<p>In October Schiff called Bitcoin <a href=\"https:\/\/u1f987.com\/en\/news\/peter-schiff-bitcoin-is-the-biggest-bubble-in-history\">the largest bubble in history<\/a>. According to him, holders of the asset are more confident in their view than investors during the dot-com era and the mortgage crisis.<\/p>\n<p>In December the relentless Bitcoin skeptic <a href=\"https:\/\/u1f987.com\/en\/news\/peter-schiff-criticises-microstrategy-ceo\">criticised MicroStrategy chief Michael Saylor<\/a> for publicly stating plans to buy Bitcoin with the $650 million raised by the company.<\/p>\n<p>Earlier in January 2021, crypto enthusiasts told Schiff <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-enthusiasts-explain-the-true-purpose-of-gold-to-peter-schiff\">about the true purpose of gold<\/a>. In February, Tesla and SpaceX founder Elon Musk explained to the gold proponent <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-explains-to-peter-schiff-what-money-is\">what real money is<\/a>.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin sceptic and gold bug Peter Schiff congratulated those who bought Bitcoin early before its surge and forced Wall Street to yield to this mania.<\/p>\n","protected":false},"author":1,"featured_media":38186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1156,1138,1298,27],"class_list":["post-38185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-institutional-investors-and-whales","tag-opinions","tag-peter-schiff","tag-russia"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=38185"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38185\/revisions"}],"predecessor-version":[{"id":38187,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38185\/revisions\/38187"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/38186"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=38185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=38185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=38185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}