Cryptocurrency skeptic and” gold-worshipper ” Peter Schiff threatened cryptocurrency investors with “a very expensive lesson in Economics.”
Peter Schiff is once again accused of crypto-currency investors in short-sightedness. In his opinion, bitcoin holders cannot be persuaded to sell BTC even by giving the most compelling arguments. He tweeted:
“Trying to explain the concept of money to the owner of bitcoin is like banging your head against a wall. These guys will soon learn a very expensive lesson in Economics and take a new look at the old wisdom of “quiet ride-you will go further”.
A few days ago, Schiff made several more posts about bitcoin on his Twitter account. In one of them, he said that although BTC has recently been growing faster than gold, this state of Affairs will change in the next few years. According to Schiff, the price of gold will soar, and bitcoin will collapse to zero. In another entry, he accused the owners of bitcoin of not knowing the principles of money and its history. He texted:
“Bitcoin fans accuse me of not understanding the technology. But when I talk to them on Twitter, I find that few of them understand the principles of money or its history. This explains why they are so easily drawn into bitcoin and so dismissive of gold.
In March, Peter Schiff stated that only fools choose bitcoin, and also said that there will be no growth in BTC and it needs to be sold faster.