Ah, Bitcoin! That glamorous enigma which confounds even the savviest of minds, like a love letter written in code. 🤯💻 Peter Schiff, that golden-voiced oracle of precious metals, admits his gravest error: overestimating mankind’s ability to grasp its “fundamental flaws.” How quaintly tragic! 🙃
“The gravest mistake,” he sighs, “was supposing others could see what heaven denied most men.” The same fools who clung to Bitcoin’s dream, he wagers, will clung to it still, even as it plummets like a soufflé in a hurricane. 🍕🌪️
A Longtime Bear, A Longtime Tale
In 2024, Schiff shared his tale with Raoul Pal, a colleague who first unveiled Bitcoin’s charm in 2010-like a secret whispered at a party, lost in translation. 🕵️♂️🔑 He confessed he “wished he’d bought some” then. Alas! A golden opportunity squandered. Such is the theater of investment decisions! 🎭💸
In 2011, he dismissed Bitcoin as a fad, a “glittering illusion.” Yet here we are: a nihilist’s paradise where gold reigns, and Bitcoin mopes. 🧊⛓️
Schiff’s Big Year: 2025! 🎉
A banner year! Bitcoin underperforms gold, silver, and the pet rock on Greg’s desk. 🏆💎 The “store-of-value” myth crumbles like a sandcastle at high tide. Gold, that unbroken romance, outshines its digital rival. 🌊💍
Schiff prophesies a descent to $42,000. “A completed head-and-shoulders pattern,” he intones-a chart as grim as Beethoven’s 9th conducted by a toaster. 🎼🔌 At $6K/gold, Bitcoin shall bow, shattered and resplendent, seeking a dead-cat bounce like Gatsby’s tailor. 🐱🎩
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2025-11-30 13:01