Bitcoin critic and Gold supporter Peter Schiff has again condemned CNBC for giving Bitcoin more airtime than Gold. He also criticized the media house back in 2019 and again a few days ago. His accusation this time came following an interview with Tim Draper. The analyst and Bitcoin evangelist was praising Bitcoin for its use as a safe haven in times of economic uncertainty. Schiff noted that they had not invited anyone to advocate for Gold.
A ‘Failing’ Bitcoin
The Coronavirus epidemic which has been a concern to world economies has again been a major talking point. The virus has been rapidly increasing and the markets have been reacting. Specifically, the U.S stock market has been negative. This has seen some analysts suggest that Bitcoin and Gold are set for gains.
Gold has in its case been all green. The asset has now hit a seven-year high. This is one of the facts that Schiff has been keen to share with his followers.
Bitcoin, on the other hand, is in the negative. The digital asset faces major resistance at $9,800 and has been slow to rally.
Schiff says, in an attempt to revive a pump, CNBC has invited Tim Draper to get sentiments high. Tim Draper has a long term Bitcoin prediction of $250K which is mainly what gets investors to pump.
In the interview, Tim Draper talks about Bitcoin being a safe haven asset in times like this. When the world is concerned about the spread of the Coronavirus and how it is and will continue affecting their economies.
Schiff believes that as a safe haven, Bitcoin is failing.