Peter Schiff Admits He Was Wrong About Bitcoin and Other Great Crypto April Fools’ Jokes of 2021

Peter Schiff Admits He Was Wrong About Bitcoin and Other Great Crypto April Fools' Jokes of 2021

Bitcoin fans have a lot to celebrate these days. Apart from the skyrocketing price in recent months, the community saw several pro-bitcoin endorsements from (former?) critiques.

Peter Schiff finally admitted he was wrong, Anthony Sassano replaced his ETH holdings with BTC, and Litecoin rebranded its product to BitcoinLite.

And, all of these milestones, and more, happened on one particular day – April 1st.

Schiff Was Wrong about Bitcoin

There’s no other way to start this article, as the community finally saw what it dreaded for years. Ever since the renowned economist and popular gold bug, Peter Schiff, started bashing the first-ever cryptocurrency, which feels like an eternity now, all crypto proponents awaited this moment.

Yes, Peter Schiff admitted he was wrong about bitcoin. He didn’t specify precisely what he had in mind initially, as he has criticized the asset’s price, meaning, role, technology, and everything in between, but he just said, “I was wrong.”

Of course, it was an April Fools’ day joke, as he made sure to emphasize as well. Schiff later revealed what he really meant:

“I didn’t think that the bubble would get this big or that so many otherwise smart people would be foolish enough to buy it. So I was wrong about that, but right about everything else.”

Sassano Buys BTC; Litecoin Becomes BitcoinLite

Some of the other announcements that emerged yesterday and had BTC implications came from the so-called “silver to BTC’s gold” – Litecoin, and a popular Ethereum proponent and investor – Anthony Sassano.

He’s well-known within the community for his support for the project behind the second-largest cryptocurrency by market cap. As such, BTC fans were shocked to find out his declaration – “I just sold all of my ETH for BTC.”

Perhaps an even more surprising announcement came from Litecoin. The founder of the popular project outlined on Twitter the rebranding, which led to the new name – BitcoinLite. Fans were ecstatic.

Negative PCR Tests for BTC Purchases

Another significant development came from Hong Kong, as explained in this detailed blog post. It touched upon new guidelines introduced by the Securities and Futures Commission (SFC) that would massively affect BTC buyers.

“Starting immediately, licensed funds, exchanges, and institutional investors will need to submit a PCR test for the presence of SARS-CoV-2 less than 144 blocks old (6,500 blocks for prospective investors on the Ethereum blockchain.) Their funds will be quarantined at a designated financial institution for 21 days before they can be exchanged for bitcoin.”

Further discussions referred to BTC mixers, which have a somewhat negative reputation enabling users to mask their funds. However, the new guidelines could see those services becoming mandatory.

Dogecoin On the Moon

It wouldn’t be a proper April Fools’ day without the intervention of one of the most amusing and yet highly influential individuals in the social media space – Elon Musk. Tesla’s CEO, also known as arguably the biggest fan of the popular meme token Dogecoin, made a startling announcement regarding his favorite crypto coin.

Musk said that “SpaceX is going to put a literal Dogecoin on the literal moon.” As has happened with some of his previous announcements regarding DOGE, the asset price jumped immediately by about 10%.

It’s worth noting that there could be more to the story with Musk. As mentioned above, he’s known for his jokes, so he could be trolling the April Fools’ Day initiatives. Furthermore, he could be trolling the trolling of the trolling of April Fools’ Day, meaning that his troll was actually a real troll. But with Musk, one never knows.

Final Words

These were some of the jokes that emerged yesterday in the online space that had connections to the cryptocurrency industry. The mandatory disclaimer here indicates that all aforementioned topics were (presumably) intended in a humoristic way.

Last but not least, we also had a bit of fun yesterday. We did publish an article about us planning to issue an NFT on Cardano. It was a joke, but who knows? Maybe we will?

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