Peter Schiff Announces Bitcoin Ordinals NFT Collection
- Peter Schiff has announced a new NFT collection called “Golden Triumph,” which will be sold via a two-part auction.
- The auction for the collection will begin on June 2 and end on June 9, with the highest bidder receiving #1 of the collection.
- Schiff revealed that he has collaborated with one of his favorite artists, who goes by the pseudonym ‘Market Price.’
- The stock-broker remains a non-believer in Bitcoin but revealed that he has found a good use case for the blockchain.
The rise to fame of the world’s largest cryptocurrency, Bitcoin (BTC), had many critics, from regulators to supporters of commodities like gold and oil. One of the prominent anti-Bitcoin personalities is Peter Schiff, the CEO and chief global strategist of Euro Pacific Capital, a broker-dealer based in Westport, Connecticut. The American stock broker has been skeptical about the usage of BTC and other cryptocurrencies and believes that BTC can never compete with gold. However, it is crucial to note that despite his criticism of BTC, he has announced a new Bitcoin Ordinals NFT art collection.
The collaborative non-fungible token collection announced by Peter Schiff will go on auction soon. The collection has been created on the Bitcoin blockchain with the help of Ordinals, which are digital assets inscribed on a satoshi (SAT), the lowest division possible for one Bitcoin. Interestingly, the reaction from the crypto community was mixed, as many wondered how the anti-Bitcoin personality got a sudden change of heart.
Peter Schiff has strongly voiced his opinions against the world’s largest cryptocurrency, calling it a Ponzi scheme and stating that it has no value. However, on the very same network, the EuroPac executive is debuting an NFT collection, and the crypto community called the stock-broker a hypocrite.
The gold supporter even bashed NFTs in earlier Twitter posts, as pointed out by other crypto enthusiasts. Schiff stated that he understood the difference between owning a rare painting and a mass-produced poster of the same. However, what he never understood was the concept of owning a digital NFT image and “making an identical copy online for free.”
The strong Bitcoin and NFT critic has now launched his very own collection on Bitcoin Ordinal but still claims that he is a non-believer in the world’s largest cryptocurrency. Peter Schiff added that he has collaborated with one of his favorite artists, who goes by the pseudonym Market Price, for the original painting “Golden Triumph.”
“Here’s your chance to buy something to commemorate what you hope will be the early days of Bitcoin, and its most steadfast critic. If I’m wrong, these singed, original prints may have a lot of value one day,” said the EuroPac executive in a reply to the comment.
The Golden Triumph will consist of one physical painting on an oil linen canvas with a hand of a human holding a bar of gold, along with 50 prints on archival paper depicting the same image and 50 digital versions inscribed as Ordinal NFTs on Bitcoin. The collection will be sold via an auction that will be held in two parts, starting on June 2 and ending on June 9. Moreover, the highest bidder will receive #1 of the collection, with the next 49 highest bidders receiving #2 to #50 in descending order.
The Bitcoin critic remains a firm non-believer in the crypto industry but has rather found a use case for blockchain-based art, which he also criticized earlier. As reported earlier by Bitnation, the world’s largest blockchain network was congested, and people paid more than $20 for a single transaction. People on crypto Twitter claimed that this is the work of an attacker who is using a significant sum of money to cause the congestion.