Bitcoin basher Peter Schiff, an avowed gold bug, got dragged on Twitter after spouting a false claim about the bitcoin price. | Source: AP Photo / Mark Lennihan
Gold bug Peter Schiff got dragged on Twitter after spouting false information about bitcoin. Schiff incorrectly claimed that BTC prices have plunged 15% since June 19.
By comparison, Schiff gloated that gold prices have spiked 10% during the same period.
Instead of dropping, Schiff said the bitcoin price should have climbed due to a combination of “favorable press, weakness in global currency and stock markets, and falling interest rates.”
Since June 19th, favorable press, weakness in global currency and stock markets, falling interest rates, and a 10% rise in the gold price, have provided ample reasons for Bitcoin speculators to buy. Yet Bitcoin’s price fell 15%! Hodlers should wonder who’s been selling, and why?
— Peter Schiff (@PeterSchiff) August 8, 2019
Schiff then derisively suggested that BTC holders are probably experiencing some remorse about not selling. “Hodlers should wonder who’s been selling, and why,” he tweeted.
The bitcoin price is up 219% over the past six months. | Source: WorldCoinIndex
‘You, sir, are lying’
Francis Pouliot, the CEO of Canada-based bitcoin exchange Bull Bitcoin, reacted by drop-kicking Schiff on Twitter.
Pouliot attached a chart contradicting Schiff’s claims and showing the gradual crescendo in the bitcoin price over the past seven weeks.
“You, sir, are lying. Bitcoin increased $2,000 per coin since June 19th.”
In a follow-up tweet, Pouliot said Schiff’s mistake probably stemmed from his “trauma from the guilt of leading his followers away from unfathomable wealth since 2013”
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