- Bitcoin records another new all-time high.
- BTC-hater Peter Schiff pushes “Golden Triumph” NFTs amid price euphoria.
- Rumors that Schiff is a secret Bitcoiner grow louder.
Peter Schiff has long built his brand on criticizing Bitcoin, calling it a bubble driven by the โgreater fool theoryโ and dismissing it as having no practical use, unlike real-world commodities.
Yet, as Bitcoin surged over the weekend, Schiff reminded followers of his โGolden Triumphโ Ordinals NFT collections, fueling suspicions that, despite his anti-Bitcoin stance, he may be more invested in BTC than he lets on.
Bitcoin Euphoria
Donald Trumpโs victory in the US election triggered a surge in crypto markets, drawing over $400 billion in inflows since the results. Bitcoin, riding the wave, is now in price discovery mode, having blown past resistance and its prior all-time high.
Sponsored
With crypto sentiment high and the incoming administration expressing crypto-friendliness, Schiff seized the moment to promote his โGolden Triumphโ NFTs. He stated that only 50 of these NFTs exist compared to Bitcoinโs 21 million supply, remarking, โItโs clear which one is more valuable. You canโt argue with math.โ
Golden Triumph is Not Popular
The Golden Triumph Ordinals collection consists of 51 NFTs depicting an arm holding a gold bar against a floral backdrop, each with a unique number in the top right corner.
On-chain data shows limited interest in the collection. The last sale was in March when Golden Triumph #24 sold for under 0.3 BTC ($18.8k at the time).
The collectionโs price floor has seen little movement over its lifetime, reflecting consistently low activity. After an initial rise from 0.059 BTC to a peak of 0.7 BTC on March 6, the floor price has since retraced and is currently at 0.125 BTC ($10.2k).
Schiffโs last promotional tweet for Golden Triumph coincided with Bitcoinโs climb to its previous all-time high of $74,000 in mid-March.
Schiff: I Donโt Have a Bitcoin Wallet
Schiffโs Golden Triumph promotion sparked mixed reactions. Many were amused by the irony of his endorsement of Bitcoin-derived products. Others, however, accused him of trying to ‘scam’ buyers into giving up their Bitcoin.
Schiff responded to the criticism, defending his position by clarifying that he wouldnโt profit from any sales since all NFTs are held by secondary buyers, adding, โI donโt even have a wallet.โ
Nonetheless, Schiffโs defense was met with skepticism. Crypto investor ‘SharkDog Crypto’ tried to coax a confession from the gold bug, admitting that he holds gold and crypto as part of his diversified portfolio.
Rumors of Schiff being a โsecret Bitcoinerโ have circulated for years, as Bitcoinโs libertarian ideals align closely with Schiffโs advocacy for free markets and minimal government.ย
Adding to the speculation, Schiffโs company, SchiffGold, began accepting Bitcoin, Bitcoin Cash, and Ethereum for gold and silver purchases as early as 2014.
On the Flipside
- The Fear and Greed Index hit 78 on November 10, marking a 30-week high.
- Jimmy Song called Ordinals a centralized “fiat scam.”
- Ordinals and BRC-20 transactions have dropped sharply in blockchain usage since April.
Why This Matters
Though Schiff publicly crusades against Bitcoin, his repeated NFT promotions during price peaks hint that BTC is central to his brand.
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