Peter Schiff: “If Bitcoin is not growing, why keep it?”

A well-known cryptocurrency skeptic and proponent of investing in gold, Peter Schiff does not expectBitcoin's growth andadvises him to sell.

Peter Schiff tweeted thatif bitcoin cannot rise against the background of high volatility in the stock market, stocks, currencies and gold, then the cryptocurrency rate is unlikely to increase under other circumstances. Schiff added that he sees no reason to keep bitcoin if its price does not rise even with factors favorable to its growth, and advised traders to sell this asset as soon as possible.

Many Twitter users hastened to refute the skeptic’s statement by comparing the “development path” of gold and bitcoin while making fun of Schiff.

“This is Peter. In 2011, he learned what Bitcoin is, but is still trying to prove that his course could collapse at any time. Gold is held at the same level as in 2011, and bitcoin at that time was worth $ 1 and reached $ 8,800. Don't be like Peter. ”

Peter Schiff has repeatedly criticizedcryptocurrencies. In December, he said that by the end of the year, the value of all assets except Bitcoin is growing. However, to the surprise of the entire crypto community, he said that bitcoin is in many ways better than the American dollar. This year, Peter Schiff even “managed” to lose access to his Bitcoin wallet, taking the pin code from the wallet as a password and not writing down the seed phrase. Perhaps this mistake convinced the cryptocurrency critic of his hostility to crypto assets even more.

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