Lost your coins Schiff called bitcoin investors fools

A well-known critic of bitcoin and gold advocate Peter Schiff made unflattering remarks about the mental abilities of investors who prefer to invest in cryptocurrency, and not in precious metal.

It all started with a tweet Schiff, in which he reminded about the role of gold as a protective asset in the crisis of 2008.

«During the financial crisis of 2008, gold fell by about 25% and in 7 months reached a new high. This drop is only 15% and a new peak can be less than a month», wrote the Chairman of SchiffGold.

In response, he noticed that the bitcoin per day increased by 12%, while the stock market continues to fall, and Schiff reacted emotionally:

«Only fools choose bitcoin. So far this year gold has increased by more than 7%, while BTC fell by 3%. Gold at 2% of the annual maximum, while bitcoin is below 35%».

In comments to the attention of the Schiff drew on the fact that bitcoin in 12 months has risen by 88%, while precious metal gained only 15%. In addition, users pointed to the benefits of bitcoin, as the ease of acquisition and storage. For example, a resident of Australia reported that for five days and could not buy physical gold.

In the end, Schiff recommended «not to be a fool» to buy bitcoin.

Previously co-founder of Morgan Creek Digital Anthony Pompliano gave him a certain amount of the first cryptocurrency to an implacable critic better know her.

Soon, however, Schiff said about losing access to your Blockchain wallet. Later it turned out that he confused the pin with a password, and copies the seed-phrase he left.

Recall, a supporter of the gold Schiff is still expressed regret that have not bought bitcoins for $10. But at the current price it is already not ready.


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