Bitcoin skeptic and gold enthusiast Peter Schiff is now surprisingly selling his digital art collection on Magic Eden, an NFT platform.
Bitcoin skeptic and gold enthusiast Peter Schiff is now surprisingly selling his digital art collection on Magic Eden, an NFT platform.
A collection of 51 one-of-a-kind digital inscriptions on the Bitcoin blockchain, "Golden Triumph Ordinals Set" sold out and had its floor price increase to 0.1245 BTC per piece or approximately $10,774, a full 149% increase over its initial offering price of 0.05 BTC.
"There's 21 million Bitcoin but only 50 Golden Triumph ordinals. It's clear which one is more valuable. You can't argue with math," Schiff exclaimed on X, underlining the scarcity of the collection. Still, he made sure to note that he doesn't personally own a Bitcoin wallet, let alone the collection: "The ordinals belong to the people who bought them in the original auction."
The timing of the announcement comes alongside Bitcoin’s historic rally, which pushed the leading cryptocurrency past $89,000 amidst post-election optimism. Schiff’s move has raised many eyebrows in the crypto community, considering his longtime criticism of Bitcoin while he constantly touted the merits of gold as an investment.
Ironically, Schiff recently spoke in opposition to the rumored Trump Bitcoin Reserve initiative, cautioning that such a policy would be just the thing to send the market tumbling. "To maintain the pretense that its Bitcoin reserve has actual value, the U.S. government would be forced to keep buying, destroying the value of the dollar in the process," he warned.
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