Cardano Founder Charles Hoskinson recently slammed Peter Schiff, one of Bitcoin’s most vocal critics. For Hoskinson, Schiff has continually failed in his price predictions for the OG cryptocurrency, and it had to stop.
In a post on X on Wednesday, Hoskinson dismissed Schiff as “wrong and utterly irrelevant,” signifying that the anti-Bitcoin sentiments of the longtime gold supporter no longer sway traders.
He pointed out that Schiff’s past BTC predictions turned out to be wrong. According to the ADA founder, Schiff was wrong when he forecasted Bitcoin at $100, $1000, $10,000 and $100,000. “He will be wrong about a million-dollar Bitcoin,” Hoskinson added.
However, he admitted that Bitcoin may face serious competition soon, which supports analysts’ view that this fast-growing XRP rival could do better.
Cardano Founder, Hoskinson, Defends Bitcoin
Schiff is a longtime financial analyst who was one of the few to forecast the 2008 economic crash and a founding member of Euro Pacific Asset Management. He has long asserted that Bitcoin is a “bubble.”
In his latest jab against Bitcoin, which Hoskinson countered, Schiff cited the divergence between the alpha crypto, the NASDAQ and gold. For him, Bitcoin is lagging in terms of the percentage distance from its record high compared to the NASDAQ and gold.
Schiff claims this wide gap shows that Bitcoin is not digital gold but rather a speculative asset. Hence, he claims BTC is poised for a mega blow.
However, market voices like Cardano founder Hoskinson are super bullish on Bitcoin, predicting it could soar to $250,000 by the end of this year or early 2026. Although he also says it would face stiff competition.
Analysts Tip XRP Rival, Remittix, Ahead of Cardano and Bitcoin
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