El Salvador's President Nayib Bukele remains steadfast in holding Bitcoin, despite its remarkable 40% surge in value. Bukele dismissed criticisms from prominent Bitcoin skeptic Peter Schiff, emphasizing the nation's long-term strategy.
Bukele reiterated the commitment to retaining Bitcoin reserves
Addressing concerns, Bukele reiterated El Salvador's commitment to retaining its Bitcoin reserves. He highlighted the nation's innovative citizenship program as a pivotal avenue for Bitcoin acquisition.
Peter Schiff is known for his skepticism towards Bitcoin
Peter Schiff, known for his skepticism towards Bitcoin, challenged Bukele to realize the gains before boasting about them. In response, Bukele delivered a succinct retort, urging Schiff to "cry harder."
Schiff doubts Bitcoin, advocating gold as a stable alternative
Schiff's doubts come amidst Bitcoin's significant price surge, surpassing $64,000. He remains steadfast in his belief that Bitcoin lacks intrinsic value, advocating for gold as a stable alternative.
In a recent podcast, Schiff expressed skepticism towards Bitcoin's future trajectory, citing its sideways movement over the past three years. Despite acknowledging the possibility of Bitcoin reaching $100,000, Schiff remains unconvinced, citing a lack of catalysts for further growth.