Peter Schiff says that having cryptocurrencies is profitable
The famous Bitcoin critic, Peter Schiff, has recovered the private passwords of his Bitcoin and now admits that having cryptocurrencies can be profitable but it will never be competition for fiat currencies.
Peter Schiff, the renowned Bitcoin critic and gold optimist, has posted on his official Twitter a comment stating that having cryptocurrencies is profitable but even then it will never be competition for fiat currencies.
Schiff received around 0.4 BTC in 2019 as a result of a donation campaign that aimed to win his sympathy for his own benefits. However, soon after, Schiff exclaimed on Twitter that he had lost access to his Bitcoin wallet and that his password was no longer valid. At that time, Schiff posted on his Twitter: "I knew that owning Bitcoin was a bad idea, but I never realized it was so bad!" However, on January 22, 2020, he was able to recover his Bitcoin after solving the problem with his passwords.
Recently, in his official Twitter account, Schiff published: "I recognize that anyone who bought #Bitcoin 10 years ago and sells it today, will earn a lot of money (...)" But I never said that the price of Bitcoin could not go up. Just I said Bitcoin would never succeed as money. Nothing that has happened in the last 10 years has proved me wrong!"