Friday, January 24, 2020

Peter Schiff Insists That Bitcoin is Not Money, Says Its Buyers Will Suffer Loss

After finally figuring out what happened to his Bitcoin wallet, Peter Schiff, the CEO of Euro Pacific Capital, got back to his regular hobby of trashing Bitcoin. In response to Anthony Pompliano, one of the loudest crypto proponents, Schiff claims that the cryptocurrency with a market cap of $154.1 bln doesn't qualify as money.

"The fact that the price of Bitcoin went up in the past does not qualify Bitcoin as being money and it has nothing to do with my analysis."

In case you were worried about Peter Schiff's Bitcoin stack, he has finally realized what happened to his wallet. It appears that the gold bug simply mistook his PIN for the password, which is why he can no longer access his coins.


Schiff's latest tweet instantly went viral with many members of the cryptocurrency proponents being genuinely surprised that the infamous Bitcoin critic could make such a beginner-level mistake.

As reported by U.Today, Schiff made plenty of headlines last week by publicly admitting to losing all his Bitcoin.

- Source, U.Today