Gold bug and Bitcoin skeptic, Peter Schiff, 'just doesn't get BTC'

22 Jun, 2019 | Updated: 22 Jun, 2019
by Joeri Cant
Bitcoin
Gold bug and Bitcoin skeptic, Peter Schiff, 'just doesn't get BTC'

Well known gold bug and Bitcoin skeptic, Peter Schiff, took to Twitter to reiterate once again that the world's most popular crypto coin 'doesn't have any use'.

Peter Schiff, gold bug and die-hard-Bitcoin skeptic, recently tweeted that the problem with Bitcoin is that once BTC investors decide to collect and sell, the price of BTC collapses.

Twitter user, Jeremy Milliorn, a self-proclaimed liberty and freedom advocate, decided to call out Schiff and ask him why he think this doesn't happen to gold?

Schiff quickly falls back to his standard answer that the only demand for Bitcoin comes from speculators, as opposed to gold, that according to Schiff, always will have a real demand as a commodity in the industry and as a reserve asset among central banks.

'So there will always be natural buyers for gold at any price no matter what', the CEO of Euro Pacific Capital said.

When another Twitter users joins the conversation to make the point that Bitcoin has a lot more diverse usage than gold, Schiff sticks to his guns by claiming that Bitcoin has absolutely no usage.

For obvious reasons, it is clear why the Chairman at SchiffGold, 'shills' gold this hard. Why he is dead set against BTC is less clear.

Or he really doesn't get Bitcoin, or he is just really working hard to 'shill them bags of gold'.

What do you think? Is he shilling, or he just doesn't get it? Let us know what you think in the poll below.

Nomatter what, gold is losing the race against Bitcoin in 2019. It is yet another landslide!

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Read more about: Bitcoin (BTC) Gold

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Is he shilling, or he just doesn't get it?

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