- Peter Schiff, a well-known crypto skeptic, has ventured into digital assets, surprising many in the crypto community.
- Binance CEO CZ joyfully welcomes Schiff’s interest in cryptocurrencies and NFTs.
- Schiff’s collaboration on the Ordinals collection showcases his recognition of the value and potential of crypto.
Peter Schiff, a well-known crypto skeptic, has surprisingly ventured into the realm of digital assets such as cryptocurrencies and non-fungible tokens (NFTs), leading to amusement among Binance CEO Changpeng Zhao (CZ).
Binance CEO Changpeng Zhao (CZ) expressed lighthearted delight as he welcomed Peter Schiff’s newfound interest in cryptocurrencies and non-fungible tokens (NFTs) in a recent tweet.
Schiff, known for his unwavering skepticism towards Bitcoin and the broader cryptocurrency industry, surprised many by revealing plans to launch an NFT art collection on the Bitcoin blockchain.
Schiff’s tweet revealed his collaboration with the artist Market Price, whom he admires, to create a collection of digital assets called Ordinals, resembling NFTs. This collection will include the artwork “Golden Triumph” as well as a range of prints and Ordinals, all recorded on the Bitcoin blockchain.
While Schiff remains humble about his involvement in the crypto world, his recent venture indicates a recognition of the value and potential he once criticized. The emergence of Ordinals, a popular trend within the Bitcoin network, demonstrates the ability to inscribe digital assets on satoshis, the smallest units of Bitcoin.
This surge in Ordinals is made possible by the Taproot upgrade introduced to the Bitcoin network in November 2021. This upgrade allows users to inscribe various forms of content, ranging from images to video games, directly onto satoshis. The engagement from users has been remarkable, with the daily record for Ordinal inscriptions being broken four times in April.
CZ’s enthusiastic reaction echoes the sentiment of the wider cryptocurrency community towards Schiff’s unexpected shift in perspective. Anthony Pompliano, a notable proponent of Bitcoin, joined in welcoming Schiff, expressing anticipation with a tweet that read, “We have been eagerly awaiting your arrival.”
