Peter Schiff Goes From Bitcoin Hater to NFT Art Collector
Peter Schiff, a renowned adversary of digital currencies, is gearing up to release a set of NFT artworks called Bitcoin Ordinals. The collection will showcase a unique Ordinal that is integrated into the Bitcoin blockchain, along with a painting named “Golden Triumph“, which showcases a picture of a human hand clutching a gold bar.
The collection will be auctioned in two parts, starting on June 2 and ending on June 9. The top bidder for the Ordinals will be awarded the #1 item. The next 49 highest bidders will receive items numbered from #2 to #50 in decreasing order.
Schiff Dissing Crypto
For years, Schiff has been a strong opponent of cryptocurrencies. Nevertheless, his recent unveiling of an NFT art collection that uses Bitcoin implies that he may have a more nuanced view of the technology. In truth, he has previously recognized that Bitcoin has value as a store of wealth, but he does not consider it a practical medium of exchange.
In March of 2021, Schiff shared his view on NFTs, labeling them as phony assets that offer no tangible value apart from digital image ownership, which can be easily duplicated online. Nevertheless, he has now produced and introduced his own NFT art collection, resulting in a mixed response and criticism within the crypto community. It is yet to be determined how well the auction for Schiff’s Bitcoin Ordinals NFT art collection will fare and whether this venture will alter his perspective on cryptocurrencies and NFTs.
Mixed Reactions of Crypto
Peter Schiff’s announcement of his NFT art collection has elicited mixed reactions from the crypto community. While some have found it amusing and embraced it, others have been perplexed by his decision to utilize the Bitcoin blockchain for the launch, particularly in light of his previous disdain for NFTs and digital currencies. Additionally, some have pointed out the apparent hypocrisy in his behavior.