Peter Schiff
Peter Schiff

Twitter roasts Peter Schiff over his take on Gold Vs Bitcoin

It is a known fact that Peter Schiff and Bitcoin are not the best of friends. Schiff has been pretty consistent and determined in his opposition to the world’s largest cryptocurrency. It goes without saying that cryptocurrency as a whole is regarded with some amount of skepticism and doubt owing to its high volatility. However, that hasn’t hindered its growing popularity and acceptance. Bitcoin can even be used to get a sizzling cup of coffee from Starbucks today. Schiff’s latest tweet about Bitcoin didn’t go well with many of the Twitter users and they have been hitting back with reactions and responses.

Peter Schiff
Peter Schiff

Schiff Vs Bitcoin

Schiff’s opposition to Bitcoin is not a new story. The renowned economist and investor has been quite vocal in his disapproval of the cryptocurrency. Schiff is of the opinion that Bitcoin lacks any intrinsic value. Let’s not forget about the debate between Schiff and Anthony Scaramucci less than two months ago wherein Schiff was declared the winner. Here is a snippet from the debate which might throw more light into the matter,

in reality, Bitcoin and Gold have absolutely nothing in common.”

He had made pretty convincing arguments about the contrast between “price” and “value.” And about how gold has the latter while Bitcoin doesn’t. For Schiff, Bitcoin is nothing but a mere “Ponzi scheme” and a “giant pump and dump.” He had also expressed his disapproval and concern about his son investing all his savings in Bitcoin. A concern that is not totally baseless given the fact that Bitcoin investors are often signing up for a tumultuous roller coaster ride whose trajectory one cannot have any idea.

However this time Twitter is not very happy with Schiff trashing Bitcoin. And we all know very well what happens when Twitter is not happy with someone. The spotlight is turned on and the plethora of reactions and responses pour in. Take a look at the latest Tweet from Peter Schiff that got Twitterati talking.

And now over to the responses on Twitter. Not everyone is happy and it is well reflected in the responses. Schiff might have intended to roast Bitcoin, fortunately, or unfortunately, he got roasted in return. Tough luck, isn’t it?

The “gold team” isn’t backing up Schiff either.

The numbers speak more than the words.

The number of responses is proof enough for the growing support for Bitcoin. Schiff unintentionally might have created an opportunity for Bitcoin to shine.

Well, some might say that something is always better than nothing.

Apparently, it did.

Now that is an interesting theory. You never know.

Perhaps Schiff needs to explore new horizons.

Need a lesson on how to use sarcasm to land a sharp hit on someone? Here you go.

No words.

Twitterati is kind enough to give certain reminders.

That is some really good advice.

Now that is some food for thought.