Peter Schiff in Defensive Mode Backs Goldman Sachs Warning To Avoid Bitcoin

Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • A leading global investment bank Goldman Sachs has recently made a bigger picture in the crypto market.
  • Moreover, this statement caused the ardent bitcoin fans extremely disappointed.
  • Besides this, the gold-bug Peter Schiff dives in the social media melodrama.

A leading global investment bank Goldman Sachs had recently made a bigger picture in the crypto market when it briefed about Bitcoin to its clients on Wednesday morning.

Bitcoin is not an asset class

The news highlighted in the crypto ecosystem when the slides of Goldman’s presentation titled “US Economic Outlook & Implications of Current Policies for Inflation, Gold and Bitcoin,” leaked on social media.

However, in one of the slides of the presentation, it says that cryptocurrencies like Bitcoin are not an asset class.  Also, it described that they do not allow cash flow or a hedge against inflation.

Moreover, this statement caused the ardent bitcoin fans extremely disappointed. On Twitter, the users criticized Goldman Sachs over its alleged ignorance and hypocrisy about cryptocurrency.

 

Peter Schiff over Twitter

Besides this, the gold-bug Peter Schiff dives in the social media melodrama. In a defensive mode, he quoted for Goldman that the bank is correct to warn its client to avoid Bitcoin.

Further, Peter added that once the bank finds what is necessary, they will suggest their clients buy gold at a much higher price.

Schiff never misses a chance to jeer Bitcoin and promote gold. His once again dishearten tweet created buzz in the social media.

Furthermore, the crypto lovers bashed on Schiff’s statement. The users responded Goldman Sachs is buying Bitcoin futures while recommending their clients avoid it. Though, It was as same as the scammer Jamie Dimon at Chase Bank.

It seems that Peter Schiff is born for his professionalized BTC refuting.

However, Wednesday hence expected to be listed under another note. In the long-term dispute between Bitcoin supporters and traditional financial assets.

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