A popular Bitcoin critic says that “Donald Trump once called Bitcoin a fraud” as BTC prices get more expensive.

Peter Schiff hit back as both Bitcoin and Donald Trump are experiencing success phases.

Peter Schiff, a global economist and prominent proponent of gold and gold ETF products, has long been opposed to Bitcoin and continues to praise gold as the best investment asset. With Bitcoin currently soaring amidst high bullish sentiment, Schiff made a jealous comment about Bitcoin.

On November 11, 2024, Peter Schiff reminded the public of an old statement from recently elected US President Donald Trump regarding Bitcoin. At the time, Trump called Bitcoin a “scam” and said its value was “derived out of thin air.”

Schiff added that the value of this “thin air” is now quite high. By sharing the puppet video, he indirectly suggested that Trump has now become a puppet under the influence of political voters.

One Bitcoin investor shared his opinion on Schiff’s views, saying there is a big difference between Schiff and other Bitcoin critics. He explained that while Schiff does not want to understand Bitcoin and its fundamentals, other prominent figures such as Trump, BlackRock CEO Larry Fink and other business leaders have shown interest in Bitcoin after learning about its fundamentals. This CryptoX user indirectly called Schiff an “idiot” who refuses to understand anything about Bitcoin other than its price volatility.

bitcoin price action

The current Bitcoin trading price is $88,461, up 10% in the last 24 hours. In particular, today Bitcoin broke its all-time high, hitting $89,507. Bitcoin has been consistently hitting new highs, indicating that the market is in a strong bullish phase. Some cryptocurrency analysts predict that the current bull market will continue with similar momentum over the next 12 months, but it will be interesting to see how long this momentum lasts.