Peter Schiff, one of the most well-known anti-BTC (BTC) analysts, surprised his followers with his latest post.
Schiff announced an art project involving the Bitcoin blockchain with Market Price, which he says is one of his favorite artists.
Peter Schiff to Sell Artwork Using Bitcoin Network
Schiff, CEO of Euro Pacific Capital and a staunch gold advocate, has been critical of Bitcoin for years. He described Bitcoin as a digital pyramid scheme, a bubble, and a worthless asset. He was also at odds with his son Spencer Schiff, who is also a Bitcoin investor.
However, Schiff revealed in a recent tweet that he has collaborated with Market Price, an artist who creates paintings inspired by financial markets. The project includes the original "Golden Triumph" chart, as well as a series of prints and Ordinals written on the BTC blockchain.
I'm pleased to announce an art project with one of my favorite artists, Market Price. This collaboration features the original painting “Golden Triumph” as well as a series of prints and Ordinals inscribed on the #Bitcoin blockchain. For information go to https://t.co/lEFJmgYTCk pic.twitter.com/vyoErYv39q
— Peter Schiff (@PeterSchiff) May 26, 2023
Ordinals are a way to make individual satoshis, Bitcoin's smallest unit, unique by adding extra data to them.
They are created using the Counterparty protocol, which allows users to issue private tokens on the Bitcoin network. Ordinals can be used to represent ownership of physical works of art, as in Peter Schiff's art project Market Price. There is actually an NFT logic here.
Ordinals were also used to mine meme tokens on the BTC network.
Schiff announced that the project will consist of two auctions that will end on June 9, 2023. The first auction will be for the original painting and an unnumbered Ordinal of the painting in the painting. The second auction will be for 50 prints and their corresponding Ordinals numbered 1-50.
Schiff did not explain why he decided to join an art project that uses the BTC blockchain, which he has repeatedly stated is useless and insecure. Some of his followers speculated that he might have changed his mind about Bitcoin or that he was trying to appeal to a new audience.
*Not investment advice.
