Peter Schiff’s advice to sell Bitcoin BTC/USD seems to have backfired — the apex crypto is up 27% since then, according to data from Benzinga Pro.
What Happened: Schiff pointed out earlier this month that Bitcoin was trading at its highest level in 3 weeks, above $18,000, saying it presented “a great opportunity” for holders to take advantage of the price and sell prior to the release of the December Consumer Price Index (CPI).
Podcaster Peter McCormack on Sunday said Bitcoin had eked out gains since then, unlike gold. This comes as the global crypto market cap has once again crossed the $1 trillion mark, after closing 2022 below $790 billion.
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Ross Gerber, a prominent Tesla Inc investor, is certain that Bitcoin is here to stay after it defied the odds yet again.
Gerber, co-founder and CEO of Gerber Kawasaki Wealth & Investment Management wrote: “Another fun day for bitcoin $23k and defying the haters who were sure it was dead. But no, bitcoin is like a cockroach [that] returns every time.”
Price Action: At the time of writing, BTC was up 0.07% in the last 24 hours, trading at $22,756, according to Benzinga Pro.