Between the 10:16 and 10:29 mark of this video, Peter Schiff says if you were "stupid enough" to buy cryptos early on then you need to sell now! And even a few seconds earlier he says that government fiat currency is BETTER than cryptos. Peter likes fiat better than Bitcoin!
So Peter Schiff has become such an expert on Bitcoin and cryptocurencies that he is advising the world to SELL now.
I have always respected Peter and I agree with him on so many economic fronts. But this is a crazy strategy to go all in on BASHING cryptos!
Peter should tell the world and his clients (highly likely that most of his clients also buy Bitcoin and other cryptos) the following:
1. I am in the process of researching cryptocurrencies and have not yet made up my mind if I want to invest my money.
2. I like the idea of free market currency. However, it's very early in the game so there will be winners and losers. I like the idea but I am still researching this market. I will get back to you on my perspective as soon as possible.
3. Such a relief to see an asset class that does not appear to be manipulated by governments. I think that cryptocurrencies could really help break free the PM markets.
But no.......Peter has to tell the world how much he despises Bitcoin and how STUPID we are for buying it.
Do I think that all 1,000 (+/-) cryptocurrencies will succeed? Of course not! Maybe the majority will not survive to see 2020. But the cryptocurrency market is here to stay. The technology is too revolutionary to fail. And it's only getting better!