Peter Schiff: Only Fools Choose Bitcoin

The head of Euro Pacific Capital and an ardent cryptocurrency critic Peter Schiff once again unflatteringly spoke about people who prefer bitcoin to traditional assets.

In his social network, he published a post in which he indicated a rapid change in the trend of gold during the 2008 crisis. Then, after only six months, the precious metal was able to win back its 25% drop and tested the new price peaks. In turn, supporters of cryptocurrencies instantly responded to this statement, noting that in the current situation, when the stock market is steadily declining, Bitcoin has shown a growth of 12%.

“Only fools choose bitcoin. Gold has already grown by more than 7%, and BTC has fallen by 3%, ”said Peter Schiff. In turn, his opponents noted that buying physical gold is not so simple, unlike the first cryptocurrency, which added about 90% to the value over the year, while gold only 15% and urged the head of Euro Pacific Capital “not to be a fool ”and join the crypto community.