Peter Schiff, a prominent gold advocate and vocal critic of Bitcoin BTC/USD, recently expressed his doubts about the future of the leading cryptocurrency. Schiff, who has been skeptical of Bitcoin, is contemplating speaking at a Bitcoin conference in 2025.
What Happened: Schiff, who is known for his skepticism towards Bitcoin, met with David Bailey CEO of Bitcoin Magazine at a pool party in Puerto Rico. They discussed Schiff potentially speaking at the upcoming Bitcoin conference in Las Vegas.
Schiff expressed uncertainty about Bitcoin’s future, stating, “I wonder if Bitcoin will still be a thing that far into the future.”
The Bitcoin Conference, organized by BTC Inc., is set to take place in Las Vegas from May 27-29, 2025. This event follows the Bitcoin 2024 conference, which drew over 22,000 attendees to Nashville.
Why It Matters: Schiff has long been a vocal critic of Bitcoin, often expressing his skepticism about the cryptocurrency’s value and future. In a recent podcast, Schiff reiterated his stance, stating he remains “open-minded” but has yet to encounter a convincing argument to embrace Bitcoin.
He remarked, “I know all you guys are gonna try to win me over, convert me and get me to embrace Bitcoin. It's not going to work.”
The Bitcoin 2024 conference in Nashville was a significant event, drawing over 22,000 attendees and featuring high-profile appearances, including former President Donald Trump, who raised $25 million during the event.
Meanwhile, prominent figures like Robert Kiyosaki have been advocating for Bitcoin as a hedge against economic uncertainty. Kiyosaki, author of “Rich Dad, Poor Dad,” emphasized the importance of diversifying investments to include Bitcoin amid visible market crashes and hidden banking crises.
Additionally, Vitalik Buterin, co-founder of Ethereum, recently made a notable move by transferring a substantial amount of Ethereum ETH/USD to a cryptocurrency exchange, sparking speculation within the community.
Price Action: Bitcoin is currently trading at $58,476.60, up 0.07% in the last 24 hours. Year to date, the King Crypto has surged by $14,304.60, marking a 32.38% increase, according to data from Benzinga Pro.
Read Next:
Image Via Shutterstock
This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
