Peter Schiff Explains Why

Bitcoin's Real Price Now $30,000 and Tether $0.72: Peter Schiff Explains Why

Prominent Bitcoin rival, Euro Pacific Capital CEO and SchiffGold founder Peter Schiff posted a tweet in which he stated that Bitcoin’s real price is $30,000 at the moment and The actual price of Tether, the most frequently purchased BTC, stands at 72 cents.

Schiff tweeted about Grayscale and offered a 28% discount to NAV, which sold GBTC (Bitcoin Trust shares).

If on January 19 he tweeted that it would be easier for investors to buy Bitcoin via Grayscale for $0.73 for a $1 Bitcoin; now he is going further in his statements.

Schiff tweeted that Grayscale is not selling GBTC for Tether’s stablecoin USDT but only for actual dollars and this could be the real reason why GBTC is down 28%.

Since USDT is the most frequently used cryptocurrency (equivalent to USD), the real price of Bitcoin, according to Schiff, is not $42,000 but $30,000.

Schiff also stated that thanks to Grayscale’s discount, USDT will not be trading at $1 but at the fair price of 72 cents.

The SchiffGold founder’s claim that it is easier and more reasonable to buy GBTC (because it’s cheaper) instead of BTC is baseless since the investor has to pay a minimum of $50,000 for GBTC, which is probably too much. large for an ordinary retail investor.


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