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Criticism continues despite Bitcoin hitting $100,000 milestone

Peter Schiff argues that Bitcoin may harm the dollar, calling it a national security threat, despite its unprecedented price rise in 2024. His views contrast sharply with his son, who is fully invested in the cryptocurrency, further highlighting the divide.

Paul Krugman criticizes Bitcoin, suggesting it’s conducive to criminal activities. The idea aligns with the European Central Bank’s stance that it fails as a decentralized currency. They argue it exploits new investors and caters to illegal transactions, underscoring its perceived ineffectiveness.

Jamie Dimon dismisses Bitcoin as a ‘pet rock’ even as JPMorgan engages in Bitcoin ETFs. Rafi Farber notes it may fuel US inflation, questioning its stability during financial crises. Despite reaching $100,000, these opinions reflect ongoing skepticism about Bitcoin’s long-term viability.

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