Peter Schiff minted NFTs on Bitcoin ordinals & Changpeng Zhao celebrated the moment as a good move toward crypto adoption.
Peter Schiff is a global economist & also a very big supporter of Gold Investment. Over the last several years, Peter only slammed Bitcoin & cryptocurrencies investment. According to Peter, Crypto assets are backed by nothing & also there is no use case with this technology over Gold.
On 27 May 2023, Changpeng Zhao (CZ), the CEO & co-founder of the Binance crypto exchange, said that he was happy with Peter’s conversion.
Peter minted a collection of NFTs on Bitcoin ordinals and obviously to mint NFTs, he converted a small amount of money into Bitcoin to pay for fee. So here CZ noted that Peter is now a Bitcoin user, despite being a Bitcoin hater.
Popular Crypto Influencer Anthony Pompliano welcomed Peter for his entry in the crypto sector but Peter clearly said that he is not in crypto.
Many crypto proponents noted that Bitcoin ordinals are in the initial phase, despite being launched in Jan 2023. People believe that the real use case of ordinals is still very far from practicality.
Recently Microstrategy ex-CEO Michael Saylor confirmed that his firm is exploring opportunities with Ordinals to create a unique digital application on the Bitcoin network. He also said that initial NFTs on ordinals may be treated as an unregistered security, so people need to remain aware of such conflicts.
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