Peter Schiff, chairman of Euro Pacific Capital and critic of Bitcoin, has stated that “there is nothing as inferior as cryptocurrencies.” He has said: “Until recently the rally in highly speculative assets excluded Bitcoin. Now that Bitcoin has finally joined the party, perhaps it’s a sign that the party will soon end.” Typically, such rallies end when “lowest quality stuff,” such as digital assets, finally join them. In March, the Euro Pacific Capital’s chairman called for selling BTC and buying gold amid Silvergate Bank’s troubles. In May, Schiff announced his own collection of Bitcoin-based NFTs. The collection contains 50 numbered paintings, each signed by Schiff and the artist. Each lot includes a unique Bitcoin-based Ordinal. Peter Schiff is a longtime gold advocate and Bitcoin critic. In August last year he predicted BTC would fall to $10,000, and in December he predicted it would plummet below $5,000.
