Peter Schiff Warns Viewers of CNBC's Bitcoin Lawsuit Risk
CryptoNewsTerminal Staff24 Jul, 2024
Peter Schiff Warns Viewers of CNBC's Bitcoin Lawsuit Risk
Gold advocate and Bitcoin skeptic Peter Schiff, CEO of Euro Pacific Capital, has criticized CNBC for "recklessly and irresponsibly" airing self-serving Bitcoin return projections on X. He added that viewers who lose money based on the broadcast "will likely have a strong case for a class-action lawsuit." Schiff's comments come in the wake of a CNBC segment that featured Max Keiser, a vocal Bitcoin supporter, predicting that the cryptocurrency could reach $100,000 by the end of the year. However, Schiff argues that such projections are nothing more than "hopium," and that CNBC is simply trying to boost its ratings by giving airtime to Bitcoin enthusiasts. He also warns that viewers who invest in Bitcoin based on these projections are likely to lose money.
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