Peter Schiff says Bitcoin goes to zero
We all know Peter Schiff as the one that has been screaming over 20 years that the world economy is going down the drain and the only way to hedge against that is buying physical Gold and Silver. I am not going into that discussion, I dig precious metals just like he does, but I am not so sure that the world economy is going down the drain very shortly. The Ponzi is far from over yet, we are not on the brink of collapse by far. As long as the money printing keeps going on, nothing is going to change... But his opinion about Bitcoin is quite heavy, Peter says it has no value, it is going to zero, sooner or later. It is possible, but very unlikely if you ask me. And there are other big investors that are starting to share our opinions on that too.
Bill Miller
Like the illicit Bill Miller, the man that was able to beat the S&P 500, 15 consecutive years in a row with his fund. Well this man has decided to put 50 % of his wealth into Bitcoin and Altcoins. And believe that is a shitload of money. And this guy is not alone of course. There is Microstrategy, and other funds that are hoarding Bitcoin like crazy. And there are fund managers that are silently accumulating on crypto, without giving a lot of rumour to it. This all put together shows that we are at the beginning of a new era of crypto, the swings won't be as big as before anymore, but the upwards potential is way higher that the downwards one. Especially because there is not much Bitcoin to be mined anymore. 90.14 % of the coins have already been mined. The rest will take until 2150 before they will all be mined. Think about that. That is a short squeeze on a massive scale. Demand will keep on rising, but there are so many Hodlers that the supply will in no way fit demand. Especially because most miners are Hodling firms too. This will squeeze Bitcoin higher and higher very quickly. And it will have another effect too, the eye of the investors will go more and more to the Altcoins. And I bet my head on it, that Hive will be one of them very soon!
Bill Miller is a smart guy, that is for sure!
Sincerely,
Pele23
Posted Using LeoFinance Beta