"BTC critics are everywhere, so will investors take this seriously?"
An investor and Chief Executive Officer (CEO) of Euro Pacific Capital named Peter Schiff predicts the end of the use of the crypto industry and warns investors that Bitcoin (BTC) is about to face a "crash".
This is because BTC is still not accepted by institutions, commented Schiff while claiming that Galaxy Digital CEO Mike Novogratz himself once said that the price of the digital asset has soared only because existing holders bought more.
In addition to being skeptical of the long-term potential of crypto, he who shared his views with several members of Congress in the United States (US) once said that digital assets are a ponzi scheme.
Additionally, Schiff thinks digital gold is the best option that the global economy may adopt but he remains skeptical of BTC's ability to become one of the digital currencies of the future.
Perhaps most parties will transact in digital gold through blockchain technology or private companies and the dollar's decline as a result of the shift to digital currencies, but Schiff doesn't see BTC as a potential option.
Although Schiff predicts that BTC will plunge below the $10,000 level by 2023, his son Spencer Schiff remains confident that the future of the digital asset will find success.
Whether or not Schiff's prediction of BTC's next fall is true, some investors are optimistic about the future of BTC and other cryptocurrencies, but there are a few who remain skeptical.
