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'Don't get caught up': Crypto warning as entrepreneur points out Bitcoin's 'only legitimate use' after historic milestone


Published on 2024-12-06 05:01:55 - MSN
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  • Bitcoin has surged past $100,000 for the first time, but a prominent entrepreneur has issued a stark warning about the cryptocurrency's legitimacy. The world's largest cryptocurrency reached the historic milestone yesterday,

The article discusses a warning from entrepreneur and investor Peter Schiff regarding the cryptocurrency Bitcoin, despite its recent milestone of reaching a new all-time high. Schiff, known for his skepticism towards Bitcoin, argues that its only legitimate use is as a speculative investment rather than a currency for transactions. He points out that Bitcoin's volatility and lack of intrinsic value make it unsuitable for everyday purchases or as a reliable store of value. Schiff's comments come at a time when Bitcoin has seen significant attention and investment, yet he remains critical, suggesting that people should not get caught up in the hype. His perspective contrasts with the enthusiasm of many in the crypto community who see Bitcoin's price surge as validation of its potential as a transformative financial tool.

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[ https://www.msn.com/en-gb/money/general/don-t-get-caught-up-crypto-warning-as-entrepreneur-points-out-bitcoin-s-only-legitimate-use-after-historic-milestone/ar-AA1vnuky ]