Peter Schiff NFT

Peter Schiff, American stock broker, financial commentator, and he CEO and Chief Global Strategist of Euro Pacific Capital Inc. announced Thursday that despite being famously bearish on Bitcoin—and cryptocurrency as a whole—he is entering the NFT market and will be selling some of his greatest hits.

 

 

After some Schiff detractors called out his hypocrisy, he went on CNBC to explain the offering and do a bit of good old fashioned touting.

“It is a simple concept really, turning my tweets into NFTs that is… While crypto has zero—and I mean zero intrinsic value—the gold that drips from these two thumbs on a daily basis could not skew further in the other direction. Between the high level thinking, exuberant charm, and Twain-esque-writing I can’t think of a better investment.”

If social media is any indicator, the market has proved to be a bit resistant thus far. CNBC tweeted out a clip from the interview and the replies outnumbered the favorites 1500 to 6.  Including one from Schiff’s son, Spencer, who told his father, “What a ~golden~ idea… NOT. Can’t wait until this tanks you paper-handed fool. #Bitcoin”

It will be interesting to see if some of the other key commentators in the FinTwit space start to follow Schiff’s lead. That hasn’t proved to be an effective strategy in recent years—but as people on FinTwit love to say a broken clock is still right twice a day. So, maybe, just maybe—it is this broken clock’s turn.

 



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