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Peter Schiff Claims Paul Tudor Jones Will Abandon Bitcoin (BTC) As Dave Portnoy Leaves Crypto

Peter Schiff never misses an opportunity to predict the exodus of traders from Bitcoin (BTC) and cryptocurrencies camp. It is David Portnoy helping him out today.

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Prominent 'Gold Bug' Peter Schiff insists that eccentric millionaire David Portnoy, Founder of the media platform Barstool Sports, will be the last 'big name' to enter the Bitcoin (BTC) realm.

The Last Bitcoin (BTC) Explorer

Today, the entire Crypto Twitter community was excited by the ignominious end of Mr. Portnoy's blockchain journey. Recently, Portnoy claimed that he would rather 'watch and wait' after losing $25,000 due to the ongoing correction within the cryptocurrencies market. However, five hours later, Portnoy's stated explicitly:

I’m out on crypto because coins don’t always go up. Stocks on the other hand continue to always go up.

This decision was applauded by the most acerbic cryptocurrencies critics, including legendary investor Peter Schiff of the investment firm Euro Pacific Capital. Mr. Schiff highlighted that no celebrity would try to repeat Portnoy's experience.

Furthermore, the 'big names' will also try get out of their crypto bags. To start with, Mr. Schiff recalled billionaire hedge fund manager Paul Tudor Jones (PTJ):

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Peter Schiff admitted that Mr. Jones is a great trader who can 'take a shot', but his love story with Bitcoin (BTC) won't last long.  

Will PTJ toss aside his Bitcoins (BTC)?

Paul Tudor Jones II, a top-level asset manager and well-known macro trader, confessed about storing '1 or 2 %' of his net worth in Bitcoin (BTC), which caused a mighty furor within the crypto segment.

In May 2020, Jones announced that Bitcoin (BTC) was a 'great speculation', but its credibility surged day by day. Speaking to CNBC, PTJ admitted that Wall Street is right now witnessing the 'birthing of a store of value', referring to one of the most bullish Bitcoin (BTC) narratives.

Thus, the forecast by Peter Schiff challenges the Bitcoin (BTC) community. For instance, Christopher Jaszczynski, Co-Founder of MMCrypto, alleges that Mr. Jones may have already benefited from the king coin's price fluctuations:

Paul Tudor Jones doubles down on these #Bitcoin dips like a champ

As previously covered by CryptoComes, Dave Portnoy was heavily disappointed by the painful correction within the crypto markets, specifically the breakdowns from the impressive upmoves of Chainlink (LINK) and Orchid Protocol (OXT).

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Vladislav Sopov

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)