bitcoin Euro Pacific Capital CEO and founder of SchiffGold, who is frequently on the agenda with his anti-Semitic rhetoric Peter Schiffthis time PayPal He talked about the drop in stocks.
Schiff stated that the 25% decrease in the said shares could have a negative impact on Bitcoin (BTC).
In his tweet on the subject:
PayPal is deep in the crypto ecosystem and is one of the top picks among institutional investors looking for established stocks ready to ride the crypto wave. Looks like this wave has collapsed!”
commented.
it bodes ill for #Bitcoin that shares $PYPL have plunged 25% so far today. #PayPal is deep in the #crypto ecosystem and one of the top picks among institutional investors looking for established stocks that are poised to ride the crypto wave. It looks like that wave has crash!
— Peter Schiff (@PeterSchiff) February 2, 2022
About two weeks ago, Schiff talked about the possibility of Bitcoin falling below $30,000 soon.
He even claimed that once this happens, BTC will experience a flash crash below the $10,000 level.
As of now, Bitcoin price is moving downwards again. BTC, which has experienced a decrease of 5.63% in the last 24 hours, is trading at $ 36,452. The continued decline may justify Schiff’s predictions.
“Bitcoin Can’t Break PayPal’s Business!”
Grayscale Investments chief executive Michael Sonnenshein claimed in the Squawk Box program that in the future – if accepted by the FED – no cryptocurrencies such as Bitcoin or digital dollars will hurt the profit margins of PayPal or similar companies because cryptocurrencies are included in the business model by PayPal.