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Cryptocurrency News Articles
Peter Schiff Explains Why He Refuses to Buy Bitcoin (BTC) Despite Expectations of Growth
Dec 17, 2024 at 01:34 am
The price of Bitcoin jumped to a new all-time high (ATH) of $106,488.25 on Dec. 15 after an almost weeklong consolidation.
Bitcoin price hit a new all-time high (ATH) on Dec. 15 after an almost weeklong consolidation. The price soared to $106,488.25 at one point.
However, the coin has dropped to $104,693.33 after hitting the ATH. Despite this trend, queries from the community arose regarding why Bitcoin critic Schiff refused to buy the coin amid expectations of growth.
In a subsequent post, Schiff criticized Bitcoin’s influence among buyers, stating that many new people are buying the coin to get rich. However, he highlighted how unsustainable the cycle is, as those who own BTC refuse to sell. He contrasted this trend with that of gold, claiming that those buying gold are doing so to stay rich and not to get wealthy like Bitcoin.
His belief also hinges on the role of Bitcoin as a hedge against inflation and for sustained wealth generation. Following what is now known as the Bitcoin standard, MicroStrategy has entered the Nasdaq 100 Index for the first time since its inception. The firm has gained recognition as the first crypto-focused entity to gain that inclusion, setting the pace for others.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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- Crypto All-Stars ($STARS) Reshapes the Meme Coin Space with Its Innovative MemeVault Staking System, Raises Over $18M in Presale Funding
- Dec 17, 2024 at 04:25 am
- As Bitcoin climbs to another record high of $106,000, Crypto All-Stars ($STARS) is taking the meme coin market by storm. With its presale now surpassing $18 million, the project is gaining attention as one of the most promising meme coins of the season.
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- XYZVerse (XYZ) Promises to Dominate the 2024 Meme Coin Market by Marrying Sports and Crypto Enthusiasts
- Dec 17, 2024 at 04:05 am
- Amid this dynamic landscape, XYZVerse emerges, uniting sports and crypto enthusiasts. Aspiring for exponential growth, it blends meme culture with sports passion, creating a unique platform for community engagement.
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- Rexas Finance(RXS): We are leading the charge in Asset Tokenization
- Dec 17, 2024 at 03:55 am
- Asset tokenization market is getting transformed with Rexas Finance, emerging as a sparking platform in this market. This gives the ability to tokenize and manage real world assets such as real estate and commodities.
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- Ripple (XRP) Secures NYDFS Approval for RLUSD Stablecoin, Targeting $2 Trillion Market Cap by 2028
- Dec 17, 2024 at 03:45 am
- Ripple Labs has secured regulatory approval from the New York Department of Financial Services (NYDFS) for its highly anticipated RLUSD stablecoin, marking a milestone for the blockchain company as it strengthens its hold in the competitive stablecoin market.
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