Peter Schiff Wants Crypto Investors To Exchange Their 'Overpriced Bitcoin' For His Exclusive 'Ordinals' Collection

Gold advocate Peter Schiff on Wednesday made a proposition to those invested in cryptocurrencies, specifically targeting Bitcoin BTC/USD holders. 

What Happened: Schiff took to X to promote his rare “Golden Triumph” Ordinals collection.

Schiff urges the crypto community to consider buying his Ordinal, a collection of digital art pieces on Bitcoin Blockchain, which he says are limited in quantity.

In a tweet, he pointed out the exclusivity of his offering, saying, "One thing you can do with your overpriced #Bitcoin is buy one of six Golden Triumph ordinals currently offered for sale. If you think 21 million Bitcoin are scarce, there are only 50 of these babies. Get ready #HOLDers. These bad boys are going to moon."

Schiff posted a follow-up comment noting the changes in the market, stating, "It looks like the higher prices just brought out some sellers. There are now three offered for sale, ranging from .355 BTC to 2 BTC. That’s about $132K for the highest-priced one. Now that’s a store of value for an ordinal that was likely purchased for about $2K last year!"

The “Golden Triumph” collection, which Schiff launched in May 2023, consists of the original painting and a select number of digital prints. These digital versions are inscribed on the Bitcoin blockchain.

Data from the platform Magicden shows the floor price of Schiff's collection plummeted over 57% within hours from 0.7 BTC to 0.3 BTC. At the time of writing, Bitcoin’s current value is around $66,381.

See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals

Why It Matters: This comes as Schiff blasted the reliance on Bitcoin exchange-traded funds (ETFs). On March 4, he shared his thoughts in a tweet: "The BitcoinETFs are the tail that wags the Bitcoin dog."

Schiff warned about a potential market crash, despite Bitcoin’s climb to a high of $67,000, partly spurred by interest in ETFs. "A Bitcoin rally that lives by the ETFs will die by them as well."

Price Action: At the time of writing,  BTC was trading at $66,381, up 4.5% over the last 24 hours.

Photo Courtesy: Wikimedia Commons

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