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- The gold bug Peter Schiff has never appreciated Bitcoin (BTC) for its performance. In the recent uptick in the price of Bitcoin $7,566.76, at the time of writing article has dropped a bombshell over the ardent bitcoin hater Schiff.
- After a historical drop seen on March 12, Bitcoin has surged to its peak today. But this doesn’t make Schiff’s mind to change his perception towards BTC.
- However, Bitcoin’s upside deviation is not so impressive enough for Schiff.
The gold bug Peter Schiff has never appreciated Bitcoin (BTC) for its performance. In the recent uptick in the price of Bitcoin $7,566.76, at the time of writing article has dropped a bombshell over the ardent bitcoin hater Schiff.
Schiff says BTC HODLers to sell their “fools gold”
Schiff has just made a critic view over the Twitter platform saying the rise in the bitcoin proves that every dog has its day.
Proving every dog has its day, even #Bitcoin is rallying today. Great opportunity for HODLers to sell their fool's #gold and buy the real thing!https://t.co/0FS0z6j5B2
— Peter Schiff (@PeterSchiff) April 23, 2020
He added by suggesting the BTC holders sell their “fools gold” and but real things.
After a historical drop seen on March 12, Bitcoin has surged to its peak today. But this doesn’t make Schiff’s mind to change his perception towards BTC. Instead, he is suggesting investors sell this top coin and buy real things.
The vocal Bitcoin (BTC) hater believes that a 10 percent price hike is a great opportunity for the HODLers to sell their coins before it crashes.
BTC is a disaster in the making
Recently, The CEO of Euro Pacific Capital criticized Bitcoin by saying the loan based on “BTC is a disaster in the making” and pretending it will result in huge losses.
Sounds like a disaster in the making. How do you accept Bitcoin as collateral for a loan? How do you get your money back if Bitcoin crashes before the loan is repaid?
— Peter Schiff (@PeterSchiff) April 14, 2020
He thinks that BTC lacks its fundamental value and thus, in the coming years gold will outperform while Bitcoin will crash.
However, Bitcoin’s upside deviation is not so impressive enough for Schiff. He is certain that Bitcoin’s recent rally will be going to stop here as he doesn’t find its movement appropriate.
