Popular crypto critic and gold investor, Peter Schiff warns that the recent Bitcoin price crash will be a good teacher to millennials. They are more exposed to Bitcoin and any other generations.
Mr. Schiff made the statement on his Twitter account on December 17. He claimed the recent and a future bitcoin price crash will teach millennials a financial and investment lesson other tools or mechanisms cannot.
Peter Schiff on a future BTC price crash
What exactly the lesson a bitcoin price crash will teach millennials? Mr. didn’t elaborate, but said this:
The good news is that all the Millennial Bitcoin hodlers who are about to get wiped out in #Bitcoin are still young enough to make their money back. They will also have a lifetime to benefit from the wisdom that comes from losing money and leaning from your mistakes.
— Peter Schiff (@PeterSchiff) December 17, 2019
Mr. Schiff is well-known and outspoken critic of bitcoin and cryptocurrency. He predicted earlier in the year bitcoin will experience a massive bitcoin sell-off.
The bitcoin price crash, he predicted will see the first crypto coin price trading as little as $1,000 by the end of 2019. That has not happen yet. However, we still 1 month and twelve days left.
This is not the first time Peter Schiff threw shade at bitcoin and cryptocurrency investors. A month ago, he criticized Bobby Lee; the cryptocurrency exchange, BTCC for predicting Bitcoin will be trading at $1 million USD in 5-10 years.
“Nonsense like this, hodlers on board while the whales quietly abandon ship.” Schiff said.
While Mr. Schiff is pouring rain on Bitcoin, the majority in the cryptocurrency community is treating it as “gold 2.0.” Some former gold investors are calling their fellow gold enthusiasts to make the transition to crypto.
What do you think is the lesson a future bitcoin price crash will teach millennials since Mr. Schiff did not specify.
Raised in the U.S., Anton has a B.A. in economic history and has been in the cryptocurrency industry since 2017.
