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<h2 id="key-points">Key Points</h2>
<ul>
 <li>Peter Schiff, a gold proponent and Bitcoin critic, expresses regret over not investing in Bitcoin in 2010.</li>
 <li>Schiff debated with Raoul Pal on Bitcoin’s potential future value, ranging from $0 to $1 million.</li>
</ul>
<p>Peter Schiff, a well-known critic of <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> and a gold proponent, has expressed regret for not investing in Bitcoin when he was first introduced to it in 2010.</p>
<h2 id="schiff-s-missed-bitcoin-opportunity">Schiff’s Missed Bitcoin Opportunity</h2>
<p>In a recent interview on Impact Theory with Real Vision’s co-founder and CEO, Raoul Pal, Schiff admitted to missing out on Bitcoin’s early investment opportunity. “Do I wish I had made the decision to have thrown $10,000, $50,000, $100,000 into it? Sure,” Schiff stated.</p>
<p>He speculated that had he made that decision, he might be worth hundreds of millions today, assuming he didn’t sell. However, he admitted uncertainty about what he would have done had he made that investment.</p>
<p>The interview included a debate between Pal and Schiff about whether Bitcoin is headed towards $0 or $1 million.</p>
<h2 id="schiff-s-changing-bitcoin-perception">Schiff’s Changing Bitcoin Perception</h2>
<p>In a previous interview with Yahoo Finance in November, Schiff labelled Bitcoin as a “pure ponzi” with no underlying value. He stated that the demand for Bitcoin is based on the belief that it can be sold to someone else at a higher price.</p>
<p>However, in his latest interview, he revealed that he seriously contemplated buying Bitcoin in 2010 when its value was approximately $1. Ultimately, he decided against it, deeming the potential investment “ridiculous.”</p>
<p>Despite his regret, Schiff maintains that he still doesn’t believe in Bitcoin’s fundamentals. He stated that if he had bought Bitcoin, he would’ve done so betting on other people being “dumb enough” to buy it at a higher price.</p>
<p>Schiff’s successful Bitcoin investment would have made him feel more like a “genius” than a “gambler,” leading him to fall under the same “delusion” as Bitcoin investors, whom he later described as “greedy” and “foolish.”</p>
<p>Schiff has consistently discouraged his audience from investing in Bitcoin, referring to it as a “fools” investment. Occasionally, he acknowledges that Bitcoin hasn’t collapsed as he had expected.</p>
<p>Despite Schiff’s criticism, Bitcoin has long been regarded as “digital gold.” Some analysts suggest that Bitcoin has begun to encroach on gold’s $14.6 trillion market cap since the launch of spot Bitcoin exchange-traded funds (ETFs) in the United States in January.</p>
<p>Schiff has conceded that gold may be losing some of its market share to the spot Bitcoin ETFs. However, he expressed concern that investors may face difficulties cashing out the funds when Bitcoin undergoes a significant decline.</p>
<p>As of the start of 2010, gold was priced at $1130 (per oz) and has since increased by 91.8% to $2,168. Yet, it has been significantly outperformed by many index funds, such as State Street’s Standard &amp; Poors 500 ETF (SPY), which has grown 350% over the same period.</p>
<p>Currently, Bitcoin is the eighth largest asset by value at $1.4 trillion, trailing only gold, several U.S. tech stocks, and Saudi Aramco.</p>

Bitcoin Critic Peter Schiff Admits Regret for not Investing Sooner

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