That of El Salvador President Nayib Bukele he took a stroke on Wednesday Bitcoin Bitcoin/USD vocal opponent Peter Schiff.
What happened: Bukele said El Salvador would not sell its Bitcoin holdings despite it rising more than 40% from its purchases.
He turned to X: “When [Bitcoin’s] The market price was low, they wrote literally thousands of articles about our alleged losses. Now that [Bitcoin’s] The market price is very high, if we sold we would obtain a profit of over 40%”. He credited El Salvador’s citizenship program as the primary method for acquiring Bitcoin.
“Gold Bug” Schiff challenged Bukele to confirm these gains, replying, “Talk about these profits after you sell and make them.”
Bukele responded to Schiff by saying, “Cry harder.”
See more: Dogecoin HODLERS Are Beating Shiba Inu With 57% Profits, IntoTheBlock Data Reveals
Because matter: Schiff remained dubious about Bitcoin’s latest price surge, which saw the cryptocurrency surpass $64,000, a high not seen in the past two years.
In the context of the market recovery and the overall cryptocurrency market capitalization passing the $2 trillion mark, Schiff said on Tuesday: “There is an old saying that markets take the stairs up and the elevator down . With [Bitcoin] it’s a little different Bitcoin takes the elevator and then jumps.”
He believes Bitcoin has no intrinsic value, contrasting it with gold, which he sees as a stable haven for wealth. In a recent podcast with Anthony Pompliano, Schiff said: “Can Bitcoin reach $100,000 or more? Of course it can, but I don’t even think it’s worth betting on because it’s not even that big of an upside. I mean, it’s been going sideways for three years now… it’s topped out, almost hit $70,000 in 2021, this is 2024. I just don’t see the next catalyst for growth.”
Price Action: At the time of writing, BTC was trading at $61,759, up 8.22% over the past 24 hours, according to Benzinga Pro.
Read next: Here’s how much you should invest in Shiba Inu today for a $1 million payday if SHIB hits 1 cent?
Government photo on Flickr