Peter Schiff, an economist known for his skepticism of Bitcoin, surprised the cryptocurrency community by announcing the launch of a collection of non-fungible tokens (NFT) on the Bitcoin network.
Schiff, who has spent the past decade criticizing Bitcoin and defending gold, has unveiled a joint art collection that will soon be auctioned.
While Schiff gained fame for his negative view of Bitcoin, he also has a remarkable track record as an economist.
Before the 2008 financial crisis, Schiff was one of the few who predicted the imminent crash of the housing markets and the ensuing global recession. His view, contrary to the prevailing narrative, thrust him into the limelight and cemented his reputation as a keen observer of the markets.
I am pleased to announce an art project with one of my favorite artists, Market Price. This collaboration features the original “Golden Triumph” painting, as well as a series of prints and ordinals that appear on the #Bitcoin block chain. For information, visit https://t.co/lEFJmgYTCk pic.twitter.com/vyoErYv39q
— Peter Schiff (@PeterSchiff) May 26, 2023
Bitcoin enemy for a decade
While Schiff is not yet a Bitcoin enthusiast, his involvement in the NFT space shows a shift in perspective.
The NFT Collection, in collaboration with Market Price, includes the original painting titled “Golden Triumph” and a series of prints and ordinal numbers engraved on the Bitcoin blockchain.
The art pays homage to gold, an asset that Schiff vigorously defends as a store of value.
Schiff’s announcement shocked many, with some even suspecting that his social media account had been hacked.
Crypto entrepreneur Anthony Pompliano welcomed Schiff, while the economist replied that he is not yet part of the Bitcoin club.
Welcome, Peter.
We’ve been waiting for you to come.
— Splendor 🌪 (@APompliano) May 27, 2023
He emphasized that the collection pays homage to gold, but also contains elements that could appeal to Bitcoin enthusiasts.
Despite his foray into the world of NFTs, Schiff remains skeptical about the cryptocurrency itself.
In response to a Twitter user wondering if he thinks it’s worth posting his gold NFT on the Bitcoin network, Schiff reiterated his position that gold has value and Bitcoin doesn’t.
Correct.
— Peter Schiff (@PeterSchiff) May 26, 2023
Peter Schifft switched sides?
Peter Schiff’s collection of NFTs represents an interesting evolution in his relationship with the cryptocurrency market.
While he may still maintain his criticism of Bitcoin, his involvement in NFTs shows an openness to exploring new possibilities in the digital world.
The decision to launch a collaborative collection is a testament to the expansion of the crypto ecosystem and the diversity of perspectives within it.
With Peter Schiff’s NFT collection hitting the market, gold aficionados and Bitcoin proponents alike await the outcome of this new venture.
Regardless of individual views on Bitcoin, Schiff’s entry into the world of NFTs highlights the growing influence and relevance of this digital art form and its potential to attract a variety of participants, even those with previously differing views.
Source: Live Coins

Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.