Peter Schiff Gets Clobbered With Facts After Spewing Hate on Bitcoin, Crypto Coins News
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Peter Schiff found another reason to take a shot at bitcoin.
Bitcoin supporters took the gold bug’s latest criticism with a pinch of humor.
There’s no denying the fact that the top cryptocurrency is the best-performing asset of the year and the decade.
Peter Schiff has once again caught the attention of Crypto Twitter (CT) when he talked about bitcoin.
The -year-old gold bug has a penchant fortaking a swipe at bitcoin whenever an opportunity presents itself. On Friday, the chief executive of Euro Pacific Capital publicly criticized the No. 1 cryptocurrency for not blessing its investors with a Santa Claus rally. According to Schiff, every other asset is rallying into the year-end except for the top cryptocurrency.
Peter Schiff is right about one thing. Bitcoin is pivoting from its store of value narrative to become theworld’s one and only uncorrelated asset. This means that if assets such as stocks, commodities, and bonds dump, bitcoin will likely continue to trade as usual. The price movement of other assets has little to no influence on the value of bitcoin.
Other than that, Schiff’s tweet offers very little value even to his most ardent followers. As of this writing, the tweet has garnered over 280 comments. Many of the comments point out the obvious: the dominant cryptocurrency is up big this year.
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