Peter Schiff Calls on Traders to Buy His Ordinals Collection Amid Bitcoin Frenzy

Despite being a staunch critic of Bitcoin, Peter Schiff has called on traders to buy his Ordinals collection, arguing that they are much rarer than Bitcoin. With Bitcoin surpassing its all-time high and reaching $87,000, Schiff posted on platform X (formerly Twitter) that his “Golden Triumph Ordinals Set” would be available for sale on Magic Eden.

This collection, launched in 2023, consists of 51 Ordinal inscriptions on the Bitcoin blockchain. Similar to NFTs, a Bitcoin Ordinal is a form of digital collectible, where each Ordinal is etched onto a satoshi (the smallest unit of Bitcoin). The floor price for each Ordinal in Schiff's collection is currently 0.1245 BTC, equivalent to about $10,774, although they were initially priced at 0.05 BTC ($1,885). This collection has increased in value by 149% over the past year despite low trading volume.

Schiff argues that with 21 million Bitcoins but only 50 Golden Triumph Ordinals, it is clear that his collection is more valuable based on its scarcity. Although he claims not to own wallet $BTC or this collection, Schiff still believes that the reason investors will want to buy Ordinals is due to their rarity.

While participating in the Bitcoin frenzy, Schiff maintains a pro-gold stance, arguing that Bitcoin is a bubble and has criticized Trump's commitment to establishing a Bitcoin Reserve Fund, warning that this move could lead to a significant market downturn.