Peter Schiff Promotes His Bitcoin NFTs Amid Apex Crypto’s Move Past $81K: ‘There’s 21 Million BTC But Only 50 Golden Triumph Ordinals’

    Date:

    Renowned economist and staunch Bitcoin BTC/USD critic Peter Schiff is promoting his Ordinals non-fungible token (NFT) collection amid the leading cryptocurrency’s record-breaking rally.

    What Happened: On Sunday, Schiff took to X, encouraging his followers and the broader cryptocurrency community to bag the blockchain-inscribed artwork called “Golden Triumph.” 

    He compared the digital currency’s worth to his Golden Triumph ordinals, asserting that the latter held more value due to its limited quantity.

    “There’s 21 million Bitcoin but only 50 Golden Triumph ordinals. It’s clear which one is more valuable. You can’t argue with math,” Schiff said in a fresh attempt to downplay Bitcoin’s success.

    See Also: As Bitcoin Hits All Time High, Bitwise CEO Says There Are No Overvaluation Concerns Among BTC Investors

    Why It Matters: Schiff launched the Ordinals collection in May last year, featuring the original painting “Golden Triumph” and a series of prints and Ordinals that will be inscribed on the Bitcoin blockchain.

    Denying a change of heart, Schiff had said that the foray had more to do with the Ordinals adding more value to an existing art than Ordinals independently possessing any value.

    Bitcoin Ordinals are inscriptions of data on Bitcoin’s blockchain, commonly referencing digital collectibles or art. The concept of NFTs allows for the tokenization of various digital or physical assets, creating scarcity, provenance, and verifiable ownership on Bitcoin’s blockchain. 

    As of this writing, Schiff’s collection had a floor price of 0.1245 BTCs, worth $10,141 at current market price.

    Price Action: At the time of writing, Bitcoin was trading at $81,466, up 5.61% in the last 24 hours, according to Benzinga Pro.

    Read Next:

    Photo courtesy: Pixabay

    Market News and Data brought to you by Benzinga APIs

    Go Source

    Chart

    SignUp For Breaking Alerts

    New Graphic

    We respect your email privacy

    Share post:

    Popular

    More like this
    Related

    Nvidia Results Receive Mixed Reactions: Nov. 21, 2024

    Market sentiment is mixed today as asset prices fluctuate...

    Estimize Part One: The Wisdom of Crowdsourcing

    Vinesh Jha, CEO of Estimize, founder of its parent...

    Fill The Gap Episode Forty-Two, with Frank Cappelleri, CMT, CFA

    Your Privacy When you visit any website it may use...

    StockTok: Meta fined in India and Europe for antitrust violations

    Instagram tests content recommendation reset, Trump Media in talks...