Bitcoin Up 27% Since Gold Bull Schiff Advised To 'Drop' It: Tesla Investor Says Apex Crypto Is Like A 'Cockroach'

Peter Schiff's advice to sell Bitcoin BTC/USD seems to have backfired — the apex crypto is up 27% since then, according to data from Benzinga Pro. 

What Happened: Schiff pointed out earlier this month that Bitcoin was trading at its highest level in 3 weeks, above $18,000, saying it presented "a great opportunity" for holders to take advantage of the price and sell prior to the release of the December Consumer Price Index (CPI). 

#Bitcoin is trading above $18K, its highest level in 3 weeks, an excellent opportunity for #HOLDers to sell ahead of the release of the Dec. #CPI. #Gold is only up $10, trading at an 8-month high. While Bitcoin has already broken down, gold has broken out. Time to drop Bitcoin.

— Peter Schiff (@PeterSchiff) January 12, 2023

Podcaster Peter McCormack on Sunday said Bitcoin had eked out gains since then, unlike gold. This comes as the global crypto market cap has once again crossed the $1 trillion mark, after closing 2022 below $790 billion. 

#bitcoin is trading around 27% up since @PeterSchiff advised you to sell your $bitcoin.

Gold isn't. pic.twitter.com/cookRRax45

— Peter McCormack🏴‍� (@PeterMcCormack) January 22, 2023

See More: Best Crypto Day Trading Strategies

Ross Gerber, a prominent Tesla Inc investor, is certain that Bitcoin is here to stay after it defied the odds yet again.

Gerber, co-founder and CEO of Gerber Kawasaki Wealth & Investment Management wrote: “Another fun day for bitcoin $23k and defying the haters who were sure it was dead. But no, bitcoin is like a cockroach [that] returns every time.” 

Price Action: At the time of writing, BTC was up 0.07% in the last 24 hours, trading at $22,756, according to Benzinga Pro.

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