Peter Schiff reiterates Bitcoin has no future

by in Cryptocurrency News

Peter Schiff

Euro Pacific Capital CEO Peter Schiff continues to criticize Bitcoin despite the recent surge in cryptocurrency to $ 12,000.

On Twitter, the financier periodically publishes posts criticizing BTC and calls it a pyramid scheme.

At the end of last week, Schiff posted another post in which he noted that he is not the only one who does not believe in the future of bitcoin. Schiff pointed to another great financier, Warren Buffett, who prefers to invest in gold over BTC.

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Buffett is confident that gold remains the best asset in the world, and cryptocurrency is a "passing fad," Schiff said. He added that he adheres to the same point of view.

Recently, the CEO of Euro Pacific Capital criticized the so-called hodlers for the long-term storage of cryptocurrencies. Schiff called such investors fools and noted that Bitcoin has no chance compared to gold. However, in the camp of financiers, the attitude towards BTC is gradually changing. After Paul Tudor Jones, the former head of Prudential, George Ball, spoke about the tremendous potential of bitcoin last week. In an interview with Reuters, he said that the real prospects of bitcoin are underestimated by many. Soon, we will see how cryptocurrency becomes the best safe-haven asset.