Peter Schiff, who has been bearish on BTC for six years, finally admits defeat: he underestimated the power of fear of missing out (FOMO).

[Coin World] Peter Schiff, who has been singing the blues about BTC, has finally admitted recently — he acknowledged that he underestimated the driving force of the “foolishness” of FOMO sentiment on coin prices. Back in 2018, he predicted that BTC would fall to $750, but what happened? It's now nearly 23 times that, a slap in the face.

Although the older brother still insists that there is “no support” for the market, it does not listen to him. The global penetration rate of BTC is actually accelerating towards 2025, with the Asia-Pacific region leading the way, and the on-chain value has piled up to 2.36 trillion USD. What's even more intense is the fiat currency purchases, which have exceeded 1.2 trillion USD, thanks to the significant contributions of those spot ETFs in the US—just in terms of attracting funds, they have brought in 58 billion USD, and giants like BlackRock now treat it as a cash cow.

Ultimately, the market votes with real money, which is more persuasive than any talk.