Summary:
Peter Schiff promotes his Ordinals NFT collection amidst Bitcoinâs rally past $81K.
Schiff claims that his Golden Triumph ordinals are more valuable due to their limited supply of 50.
The Ordinals collection is designed to enhance the value of existing art on the Bitcoin blockchain.
Bitcoin Ordinals provide scarcity, provenance, and ownership verification.
As of now, Schiff's NFTs have a floor price of 0.1245 BTC (about $10,141).
Renowned economist and Bitcoin critic Peter Schiff is making headlines by promoting his Ordinals non-fungible token (NFT) collection during a remarkable rally in the cryptocurrency market, where Bitcoin recently surged past $81,000.
What Happened
On Sunday, Schiff took to X to encourage his followers and the wider cryptocurrency community to purchase his blockchain-inscribed artwork titled âGolden Triumph.â He boldly claimed that the value of his digital artwork surpasses that of Bitcoin due to its limited supply.
âThereâs 21 million Bitcoin but only 50 Golden Triumph ordinals. Itâs clear which one is more valuable. You canât argue with math,â Schiff stated, attempting to diminish Bitcoinâs achievements.
Why It Matters
Schiff launched the Ordinals collection back in May of last year, featuring the original painting âGolden Triumphâ along with a series of prints and inscriptions on the Bitcoin blockchain. He maintains that this endeavor is more about enhancing the existing art's value than any intrinsic worth of the Ordinals themselves.
Bitcoin Ordinals represent inscriptions of data on the Bitcoin blockchain, often linked to digital collectibles or art. This NFT concept allows for the tokenization of both digital and physical assets, fostering scarcity, provenance, and verifiable ownership on the blockchain.
As of now, Schiffâs collection is valued at a floor price of 0.1245 BTC, approximately $10,141 at current market rates.
Price Action
At the time of writing, Bitcoin was trading at $81,466, reflecting a 5.61% increase in the last 24 hours, according to Benzinga Pro.
Comments