Citing Bitjie, Peter Schiff, long a critic of Bitcoin, acknowledged he underestimated the impact of FOMO on Bitcoin's price. Since his 2018 prediction that Bitcoin would crash to $750, the price has risen nearly 23 times. Despite his belief that Bitcoin has 'no fundamentals,' its global adoption is accelerating, led by the Asia-Pacific region with on-chain value reaching $236 billion. Bitcoin dominates in fiat purchases, with over $1.2 trillion in fiat inflows, driven by U.S. spot ETFs that attracted $58 billion, becoming a major revenue source for firms like BlackRock.
Peter Schiff Admits Mistake in Bitcoin Prediction as Price Surpasses 23x His 2018 Forecast
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