Peter Schiff, CEO of Euro Pacific Capital and famous Bitcoin critic, continues his criticism on Twitter about the world’s leading digital currency. In his last rhetoric, he stated that Bitcoin does not need government regulation. Schiff explained it like this.

 

 

“I don’t think the government should regulate Bitcoin”

The leading gold investor stated that governments do not need to enforce the Bitcoin regulation as they do not believe it will work. This is because, according to Schiff, people who own Bitcoin will eventually “lose a lot of money”.

Schiff added that he has nothing personal against those who buy Bitcoin or try to use it as a store of value or exchange tool.

 

Elon Musk becomes a Bitcoin supporter

Earlier today, the Tesla CEO, speaking on the Clubhouse audio app, admitted that “Bitcoin is a good thing” and has become a supporter.

Musk believes Bitcoin is on the verge of widespread adoption by financial institutions and admits that he had to buy BTC eight years ago.

On Friday, following the GME “short squeeze,” followed by trading apps, including Robinhood, restricting trade with GME and simply selling other fast-rising stocks, Musk infuriated with major crypto community influencers, and Twitter’s biography says “Bitcoin”. added the tag.

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This gave Bitcoin a massive momentum and lifted it from the $ 32,000 zone above the $ 38,000 level. However, later a correction was made that lowered the price to the $ 33,000 area.

As our article goes live, Bitcoin is changing hands on the $ 34,000 band, and Musk’s admission of being a BTC supporter has not yet caused any similar spike.

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