Peter Schiff criticized the ideology of Bitcoin fans

by in Cryptocurrency News

Peter Schiff

Euro Pacific Capital CEO Peter Schiff tweeted another post praising gold and criticizing bitcoin.

The financier published similar messages on a social network earlier. This time, he criticized the so-called BTC hodlers.

Hodlers are cryptocurrency holders who do not part with it even when its value falls. They believe in bitcoin and believe that the real value of the asset will appear shortly.

Schiff believes that "running" is a crazy idea and recalls that last year gold showed more effective results than BTC.

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The financier emphasized: "Since reaching its maximum in June last year, the price of bitcoin has fallen by 33%. Over the same period, the price of gold rose by 27%."

According to Schiff, the trend to strengthen the market position of the chief precious metal will continue to dominate.

Bitcoin this year from $ 7122 rose to $ 9,285 as of today. Gold for the same period has increased in price from $ 1518 to $ 1777 per troy ounce.