On April 1, American stockbroker, financial strategist, and radio personality Peter Schiff tweeted about Bitcoin saying he changed his mind about the cryptocurrency.
This was great as the businessman is one of the biggest Bitcoin critics and thinks that the coin is a bubble.However, later Schiff said the tweet was an April Fool's joke and he still is of the opinion that BTC is a bubble, at the same time mentioning that at some point his post represented the truth. Schiff clarified that he didn't think Bitcoin would have got this far with and "so many smart people would be fool enough to buy it".
April Fool. Since my tweet didn't specify what about #Bitcoin I got wrong, it wasn't really a prank. I didn't think the bubble would get this big or that so many otherwise smart people would be foolish enough to buy it. So I was wrong about that, but right about everything else!
— Peter Schiff (@PeterSchiff) April 2, 2021
The joke raised various discussions. Twitter user Roland Strautz commented on the post saying Schiff will argue that BTC price will go down to zero even if the coin hits $5 M. To this the businessman said that day will never come.
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While Schiff is skeptical about Bitcoin, his son Spencer Schiff moved 100% of his portfolio investments into the cryptocurrency in March. The businessman didn't approve of this step and expressed his view on Twitter.