After the news that a stock exchange called Wall Street-backed EDX Markets will be established, BTC enemy Peter Schiff published a statement on Twitter, as the price of Bitcoin rose from $ 26,500 to over $ 28,000.
He argued that the new exchange would not create long-term demand for Bitcoin and would only offer more ways for speculators to gamble with the volatile asset:
“Bitcoin has hit over $28,000 today on news that Wall Street firms have created a new exchange that will allow speculators to trade crypto via brokerage accounts. I doubt there will be much demand for this exchange in the long run. More ways to gamble with BTC will not add value to Bitcoin.”
Schiff has been disliking BTC for years, claiming that Bitcoin has no real value, is a bubble waiting to burst, and is inferior to gold as a store of value and protection against inflation.
BTC supporters, on the other hand, celebrate the launch of EDX Markets as a sign of growing mainstream adoption and recognition of the crypto space.
*Not investment advice.