Peter Schiff loses Bitcoin, says holding cryptocurrency is "bad idea"

On January 19, Peter Schiff, a well-known cryptocurrency skeptic and gold supporter, claimed on Twitter that he has lost access to his Bitcoin wallet and that the wallet password is no longer valid.

Schiff added that his BTC is now essentially worthless and has no market value. He also added:

"I know holding Bitcoin is a bad idea, but I never realized it was so bad!"

Find out the truth

After Schiff tweeted about his loss, the crypto community quickly came out to find out the truth about BTC's loss. For example, Morgan Creek Digital co-founder and partner Anthony Pompliano asked if he had forgotten his password, and Schiff replied, "My wallet forgot my password."

Pompliano then asked Schiff to email him directly:

"This (wallet) software just executes commands given by humans. It can't" forget "anything. Send me an email and I will do my best to help you recover the lost Bitcoin."

However, as Schiff responded , BTC really seems to be gone forever:

"Eric Voorhees created the wallet for me, and he even thought I could do nothing. But if you have any ideas, you are welcome to try them."

BTC Price Skepticism

Schiff is known for his outspoken criticism of cryptocurrencies. Just before the New Year, he claimed that unlike all other asset classes, BTC would not rise at the end of the calendar year.

In late November last year, Schiff claimed in a debate on Twitter that the price of BTC would drop to $ 1,000 to "complete this model (BTC will not rise at the end of the calendar year)."

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