The price of Bitcoin jumped to a new all-time high (ATH) of $106,488.25 on Dec. 15 after an almost weeklong consolidation.
Bitcoin price hit a new all-time high (ATH) on Dec. 15 after an almost weeklong consolidation. The price soared to $106,488.25 at one point.
However, the coin has dropped to $104,693.33 after hitting the ATH. Despite this trend, queries from the community arose regarding why Bitcoin critic Schiff refused to buy the coin amid expectations of growth.
In a subsequent post, Schiff criticized Bitcoin’s influence among buyers, stating that many new people are buying the coin to get rich. However, he highlighted how unsustainable the cycle is, as those who own BTC refuse to sell. He contrasted this trend with that of gold, claiming that those buying gold are doing so to stay rich and not to get wealthy like Bitcoin.
His belief also hinges on the role of Bitcoin as a hedge against inflation and for sustained wealth generation. Following what is now known as the Bitcoin standard, MicroStrategy has entered the Nasdaq 100 Index for the first time since its inception. The firm has gained recognition as the first crypto-focused entity to gain that inclusion, setting the pace for others.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
