Schiff told Kitco News on the sidelines of the Vancouver Resource Investment Conference (VRIC) that “crypto was my worst investment because I lost 100%.”
At least all the cryptocurrency was gifted to Schiff. “I didn’t buy it. I got them for free. Had I bought some, that would have been even worse,” he said.
The story is that Schiff was gifted about $2,000 worth of bitcoin after Erik Voorhees opened up a wallet for him on Blockchain.com.
“Initially, I did a debate on bitcoin with Eric Voorhees at the Soho Forum. After the debate, we went out to dinner. Eric set up a wallet for me … Ironically I’ve got some [crypto] now. It was a tiny amount,” Schiff said.
After finding out that Schiff had a wallet, co-founder and partner at Morgan Creek Digital Anthony Pompliano asked for the wallet ID to send Schiff $100.
“Anthony says I’ll give you some money, I said okay, here is my wallet ID … And Anthony never gave me the $100, but other people gave me about $2,000 worth. That was the entire content of my wallet,” Schiff explained.
After that, rumors began to circulate that Schiff was a secret bitcoin supporter.
“I was on the Internet the other day and someone was bringing up that I was secret bitcoin holder. So, I went to check out my wallet on my phone. And I go to log in and normally it has a keypad and I push in my numeric code. And all of a sudden, it says that I have been logged out and something is wrong and I have to log back in, but my code doesn’t work anymore,” Schiff said. “So now, my bitcoin is gone.”
“I lost all of my bitcoin. It is all gone,” he added. “Initially, [bitcoin] has no instruct value and now [it] has no market value because even if I wanted to sell it, I can’t.”
Schiff pointed out that some people think he just forgot his password, to which he replies: "100% no.”
“I knew exactly what my password was. It was very simple. It was impossible for me to not remember it. It is just the wallet doesn’t recognize it anymore and I have no way of retrieving it. So, my bitcoin is still in that wallet, it just can’t be accessed,” he said.
- Source, Kitco News
