RATE Group | Bitcoin ‘Suckers’ Are Wrong About Safe Haven Status — Peter Schiff
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Bitcoin ‘Suckers’ Are Wrong About Safe Haven Status — Peter Schiff

26 Feb Bitcoin ‘Suckers’ Are Wrong About Safe Haven Status — Peter Schiff

Posted at 15:18h in Bitcoin News by

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Bitcoin (BTC) naysayer Peter Schiff has taken the opportunity to pour scorn on cryptocurrency investors after fresh price losses this week.

In a series of tweets beginning Feb. 25, Schiff, well known as a gold proponent, claimed Bitcoin’s volatility made it inferior to the precious metal.

Schiff: Bitcoin as a safe haven is “nonsense”

BTC/USD has seen considerable selling pressure since the weekend, losing almost $1,000 over the past three days. 

“Bitcoin promoters claim #Bitcoin has proven itself to be superior to #gold as a safe haven and store of value. This is nonsense,” one post reads. 

“Bitcoin hasn’t been around long enough to prove anything other than P.T Barnum right. There’s a sucker born every minute and many of them own Bitcoin.”

While Schiff is in fact among those who own Bitcoin, his interaction has been marred by a lack of understanding of how even basic consumer wallets work. As Cointelegraph reported, Schiff railed against wallet provider Blockchain after…

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