Ever heard that saying, “all that shimmers is not gold?” Well, if that sparkle is a reflection of the value rather than a tangible glow, the shine may be from Bitcoin and not gold.
Peter Schiff, the poster-boy for the ‘invest in gold’ bandwagon and now at the epicenter of the infamous gold versus Bitcoin debate, seems to be turning into a fan of the king coin. Even though he has unequivocally disavowed the long-term prospects of cryptocurrency as a store of value, its inherent investment capabilities, coupled with the skyrocketing price of Bitcoin, may be luring him.
Following Schiff’s admission that he does, in fact, own Bitcoin, the crypto-community decided to help out. First to try and flip Schiff was Anthony Pompliano, Co-founder of Morgan Creek Digital, who asked the former for his BTC wallet address, vowing to send the Bitcoin basher some Bitcoin.
“What is your BTC wallet address?
I’ll send you $100 more of Bitcoin”
— Pomp ? (@APompliano) July 5, 2019
With growing anticipation of what became of the generous donation from Pompliano and others within the community, Schiff finally revealed all in his recent podcast.
Schiff, retrospectively stated that he “wished” he had purchased Bitcoin when it was still trading under $100, but not to hodl it or adhere to its decentralized principles, but rather to ‘sell it, anywhere along the way.’ He believes that this ‘buy the Bitcoin dip’ sentiment is not isolated to him alone, with Warren Buffett and Nouriel Roubini, two known crypto-critics, possibly also sharing the same sentiment, albeit not publicly.
The Bitcoin-basher added that he also holds some amount of Bitcoin Cash and Ether. Additionally, the crypto-tooth fairy that gave Schiff his first Bitcoin wealth was interestingly,