Peter Schiff predicted that the institutional adoption of cryptocurrency is coming to an end and that we should be prepared for the next crypto crash. Schiff also chastised CNBC for failing to ask Galaxy CEO Mike Novogratz probing questions, claiming that members of the news staff are
Schiff also chastised CNBC for failing to ask Galaxy CEO Mike Novogratz probing questions. He alleged that members of the news staff are “Bitcoin pumpers.”The financial commentator claimed that Novogratz himself stated that BTC’s recent rally was driven solely by existing holders buying more. He further stated that it wasn’t due to institutional adoption.
Schiff claimed that the excitement surrounding BTC’s underlying technology subsided and warned investors of an impending crypto crash. Schiff was also skeptical of the cryptocurrency’s long-term viability.his views with several Congress members in the U.S. He once compared crypto to a Ponzi scheme.him that he once predicted BTC would be well below $10,000 by 2023. Spencer, on the other hand, remained a little too bullish about the token’s future.
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