Economist Peter Schiff Criticises Bitcoin ETFs
Economist Peter Schiff took to Platform X to express his concerns about Bitcoin ETFs.Schiff argued that ETFs defeat the original purpose of Bitcoin, claiming that Bitcoin is no longer decentralised or peer-to-peer. He emphasised that bitcoin in the form of ETFs is easily confiscated, cannot be used as a payment currency and is not suitable for cross-border transfers. In addition, users do not own private keys, which means they no longer truly own their bitcoins.
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