On the podcast Impact Theory with Raoul Pal, Peter Schiff, President of Euro Pacific Capital and a vocal opponent of the first cryptocurrency, admitted that he had once been tempted to invest in Bitcoin.
When asked if he would buy digital gold if he could go back in time, Schiff replied:
“Of course, I’m not an idiot.”
He went on to explain that a colleague had shown him Bitcoin when its price was around $1 in 2010, but at the time he did not appreciate the potential of the technology and dismissed it as a bubble.
However, he admitted that he wouldn’t have spoken out against it and would have simply “bet that other people are stupid enough” to buy at a higher price.
Raoul Pal, a former Goldman Sachs executive, noted that Schiff had already missed his opportunity to invest in Bitcoin. Schiff maintained his stance that investing in digital assets is a gamble, not a smart investment solution.
