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ANSWERQUESTION
What is Bitcoin’s critical flaw as pointed out by Peter Schiff?
1 ANSWER
Peter Schiff, the CEO of Euro Pacific Capital and a well-known Bitcoin critic, has suggested that the precipitous drop in the price of UST signals a major flow in Bitcoin and cryptocurrency in general. Schiff explains that LUNA cannot sell enough Bitcoin to keep UST at $1 because Bitcoin does not provide enough liquidity. Personally, it’s hard to pin down BTC this way by virtue of what happened to UST. Bitcoin has existed way before stablecoins and Terra Luna and UST, so I believe it will weather the storm and take off again, as it always has.
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