Peter Schiff predicts gold will 'go to the moon' while Bitcoin 'falls back to Earth'




Peter Schiff: Bitcoin will never reach 50k


Peter Schiff - a famous anti-cryptocurrency cracker and a gold broker, continues to throw Bitcoin rock on Twitter.


Schiff predicts that in the coming years will see gold "go to the moon" while Bitcoin (BTC) "falls back to Earth."


Bitcoin supporters don't understand money


In a tweet on April 11, Peter Schiff predicted a reversal in what he described as a persistent trend of "Bitcoin hodlers poking gold investors" about BTC being superior to gold. In recent years.


Schiff speculates that the trend will reverse when gold "hits the moon" in the coming years, and predicts BTC will "fall back to Earth."




Schiff also stated that the cryptocurrency community has accused him of not understanding Bitcoin's underlying technology, he countered that Bitcoin supporters have a limited understanding of money and its history:



“Bitcoin supporters accuse me of not understanding the technology. But when I drew them on Twitter, I discovered very few of them understood money, or the history of money. That explains why they are so easily drawn into Bitcoin and very disdain for gold. ”



Reaction of the cryptocurrency community


The cryptocurrency community on Twitter has had mixed reactions about Schiff's tweet. A fan of Bitcoin described gold as something "ancient":



“Now it's 2020, the time we stop using rocks as money or a store of value. It has worked great for ancient people and non-digital society. However, we are now much more developed. #Bitcoin is simply a better way to make money and keep your assets. ”



In a more friendly tone, the Twitter user named BRRRRRay wrote: “In fact, most of us hold gold as well as the chorus of gold-owned cryptocurrency holders announcing their exposure to both Bitcoin and precious metals. ”


ClawManSlippy, meanwhile, criticized Schiff for promoting the cryptocurrency community to promote his gold business, tweeting:



“Why are you framing this on Gold with Bitcoin when the real enemy of wealth is printing unlimited money by global governments? Or is this just a sales trick to make a profit for yourself? ”



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According to CoinTelegraph
Translated by ToiYeuBitcoin