Economist Peter Schiff once again criticized Bitcoin (BTC) during the July 15 episode of “The Peter Schiff Show”, stating that investors who continue holding the cryptocurrency near current levels may regret not having sold.
According to Schiff, Bitcoin is showing signs of resistance in the short term, but still faces risks that could trigger another sharp drop in price. He said that the US$ 65.000 range represents important resistance, while the region near US$ 58.000 would be relevant support.
If support is lost, the economist believes that BTC could fall to below US$ 50.000 and later seek even lower levels, between US$ 30.000 and US$ 20.000.
"Whoever does not sell now will regret it greatly," he warned.
Despite the criticism, Schiff acknowledged that Bitcoin has shown greater resilience than he expected in recent years. The economist also commented that he regrets not having bought BTC when he first learned about the asset about 15 years ago.
"I do not regret not buying it three, four, or five years ago," he told listeners. "But yes, 15 years ago, for sure, I should have bought it."
At the time of publication, Bitcoin was trading near US$ 65.000, posting gains after the release of United States inflation data below expectations. The move increased demand for risk assets in the financial market.
In addition to his criticism of Bitcoin, Schiff also commented again on the strategy of Strategy, the company led by Michael Saylor. According to him, the company stopped buying BTC for three consecutive weeks and chose to raise US$ 450 milhões through the sale of common shares.
The operation increased the company's cash reserves to about US$ 3 bilhões, while its shares were trading below the value corresponding to the Bitcoin reserves held.
For Schiff, the decision represents unnecessary shareholder dilution and indicates that Strategy is avoiding selling its BTC reserves so as not to put even more pressure on the cryptocurrency's price.