Peter Schiff, chief executive officer of the Euro Pacific Capital, has one sharp word for the Bitcoin bulls of the crypto market: “Idiots!’
But, it appears that the CEO has immediately contradicted himself when he responded to a post and said he regretted not buying Bitcoin when it was still at a lower price.
For more than 10 years, Schiff has remained a Bitcoin bear and was not known to sprinkle Bitcoin with praises and admiration. In fact, two years ago, he called the Bitcoin craze nothing but a big Ponzi scheme that only needs more investors for it to work.
Neuberger Berman’s proposal
Neuberger Berman, an asset management firm, has submitted an amended proposal to the U.S. financial watchdog PUS which says that it will invest 5.5% of its assets in bitcoin and ETFs in Canada.
This move is intended to open the doors for investors to have indirect, protected, and safe exposure to investments related to cryptocurrencies. The proposal was immediately approved.
The asset management firm’s earlier filing included investments in crypto derivatives and trusts, but in its latest filing, Berman has excluded these things. It also said that its latest diversification of portfolio is intended to protect its investments from inflation.
Peter Schiff and Euro Pacific Capital
Peter Schiff is an American stockbroker, financial commentator, and radio personality.
He is the chief executive officer and chief strategist of Euro Pacific Capital, a broker-dealer based in Westport, Connecticut. Schiff is also the CEO of Euro Pacific Precious LLC, a gold and silver dealer in New York City.
He is a prominent financial figure and frequently appears as a guest on CNCB, Fox Business Channel, and Bloomberg Television. The CEO is also a frequent guest on financial internet radio shows and a former host of the podcast “Wall Street Unspun”. Major publications often quote him on his financial insights.
Image courtesy of Cointelegraph News/YouTube
Source: https://bitcoinerx.com/blockchain/someone-just-called-bitcoin-bulls-a-bunch-of-idiots/
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