Crypto Pundit and Goldbug Peter Schiff Begins to Warm Up to Bitcoin

In recent weeks, both Bitcoin and gold have started to show signs of the early stages of a bull run is beginning. However, goldbug Peter Schiff, founder of SchiffGold, says that while gold is indeed laying the foundation of the next bull run, Bitcoin is actually in a suckers rally, and has even compared buying Bitcoin to throwing money into the garbage.

The comments have made Schiff a target in the crypto community, and has received a barrage of comments pushing the investor to pay more attention to the digital version of his beloved precious metal, which shares so many of the same qualities that make it unique. But the Bitcoin basher may finally be coming around, and is welcoming a conversation on Bon the first every crypto asset and is hoping that he may be convinced of its value.

Peter Schiff Now Owns Bitcoin: Is the Goldbug Turning Crypto Bull?

The outspoken founder of precious metals investment firm SchiffGold, Peter Schiff, has been on a Bitcoin bashing rampage in recent weeks. In his defense, his entire business and belief system is at risk of being unseated by something he thinks is trash, and is reacting accordingly to protect his investment.

Related Reading | Crypto Pundit Peter Schiff Says Gold Is In Early Bull Market, But Bitcoin Is a Suckers Rally

But he might just be finally coming around, now that he actually owns some Bitcoin.

Schiff claims he was gifted about 0.25 BTC according to current prices from crypto supporters encouraging him to learn more about the digital asset. The investors asks what he should do with his BTC: buy gold with it for his wife, or HODL until Bitcoin moons and buy a Lambo for myself.

While he remains a skeptic, its at least piqued his interest enough to host the first ever “Peter Schiff Bitcoin challenge live on his Youtube channel. Hes opening the floor for someone to change his mind about Bitcoin.

Cryptocurrency Has Broken Through to Traditional Finance

In addition to the biggest goldbug in the world beginning to come around to Bitcoin, so is the rest of the traditional world of finance. Institutions are finally paying attention, and investors have begun to flock to Bitcoin alongside gold, the Japanese yen, and the Swiss franc as an economic hedge in the face of impending global economic collapse.

Related Reading | Prominent Investor: Mainstream Finance Is Now Considering Bitcoin As a Safe Haven Asset

The world of traditional finance has finally began to give cryptocurrency and more importantly, Bitcoin, the respect it deserves. The trend can also be seen in reverse. Crypto traders who once only stuck to the emerging asset class have started to become increasingly interested in traditional assets outside of crypto, and exchanges have begun to cater to that demand. Both eToro and PrimeXBT offer a range of traditional financial assets outside of crypto, including stocks indices, commodities, forex, and even the gold that Peter Schiff holds so dearly.

If Peter Schiff can be convinced that Bitcoin has real value next to his beloved gold, it won’t be long until the rest of the world realizes Bitcoin’s potential.

The post Crypto Pundit and Goldbug Peter Schiff Begins to Warm Up to Bitcoin appeared first on NewsBTC.

10.07.2019 / 14:10 51
Peter Schiff Aims To Collect One Whole Bitcoin Peter Schiff Aims To Collect One Whole
Following yesterday’s revelation that gold-bug, Peter Schiff, had $100 worth of Bitcoin, people have been sending him more. In his latest podcast he
Gold Bug Peter Schiff Takes Bitcoin Correction as a Chance to Swipe at BTC Gold Bug Peter Schiff Takes Bitcoin
CEO of Euro Pacific Capital and chairman of SchiffGold, Peter Schiff, has once again provided critique of Bitcoin. The self-proclaimed gold bug used
Crypto Pundit Peter Schiff Says Gold Is In Early Bull Market, But Bitcoin Is a Sucker’s Rally Crypto Pundit Peter Schiff Says Gold Is
Bitcoin has drawn many comparisons to Gold, and is often referred to as the digital version of the precious metal and commodity due to its scarcity,
Goldbug Schiff: Facebook’s Crypto Will be Bad for Bitcoin (BTC) Goldbug Schiff: Facebook’s Crypto Will
Facebook is Bad for Bitcoin? June 18th is nearing, and that means that Facebook’s crypto asset, expected to be nothing like Bitcoin, is on the verge
Bitcoin Cash Being Accepted by ‘Gold Bug’ Peter Schiff’s Firm Bitcoin Cash Being Accepted by ‘Gold
The very famous while bearish on cryptos – ‘gold bug’ Peter Schiff is not so much of a bitcoin-lover. For some time now he has commented on various
‘Gold Bug’ Peter Schiff’s Company Now Accepts Bitcoin Cash ‘Gold Bug’ Peter Schiff’s Company Now
This week the bitcoin cash community was surprised to hear that the infamous ‘gold bug’ Peter Schiff is now accepting bitcoin cash, joining a number
Comments (0)
Add a comment
Comment on