Bitcoin Price ‘Will Never Hit $50K’ Gold Bug Peter Schiff Tells Tom Lee

Must Read

Beaxy Has been Revived After Rumors of Exit Scam

The Cryptocurrency exchange Beaxy, has been revived, there has been much controversy about the exchange doing a...

Bitcoin Miner Canaan’s IPO Gets $90M After Losing Banking Partner

Bitcoin (BTC) mining giant Canaan Creative has raised $90 million in its initial public offering (IPO) —...

Lamborghini Uses Salesforce Blockchain to Certify Cars

Italian luxury sports car brand Lamborghini is using Salesforce Blockchain to authenticate heritage Lamborghini cars. Salesforce, a major...
- Advertisement -

Bitcoin price  will never make it to $50,000, gold bug and crypto skeptic Peter Schiff has claimed in the latest attack on the largest cryptocurrency.

‘This is hysterical’

In a social media debate on Aug. 20, Schiff, who is well known for his distaste for Bitcoin, said that gold would definitely reach $5,000 in the future. 

Schiff was debating with Joe Kernen, the CNBC host who recently interviewed Bitcoin proponent and regular Schiff troll, Anthony Pompliano.

“Prior the 2008 financial crisis, when I was still invited on CNBC, Joe was critical of my advice to buy gold. Joe was wrong to be bearish on gold then, and he’s wrong to be bullish on Bitcoin now!” he summarized.

Kernen subsequently reminded Schiff about his $5,000 gold prediction, which has yet to come true. Tom Lee, co-founder of Fundstrat Global Advisors and another CNBC regular, chimed.

“This is hysterical,” he summarized about the gold prediction.

“Gold will eventually hit $5K. Bitcoin will never hit 50K”

This emboldened the already outspoken Schiff, who then went on record to announce that BTC/USD would fail to attain levels predicted by Lee.

“My gold forecast came a lot closer than your Bitcoin forecast. Plus at least gold will eventually hit 5k. Bitcoin will never hit 50k,” he wrote.

Twitter reactions pointed out the relative irony of Schiff’s bearishness, given the fact he both owns Bitcoin himself and accepts it for payments through his gold business.

- Advertisement -
- Advertisement -

Latest News

11 Years Ago Today Satoshi Nakamoto Published the Bitcoin White Paper

Today, Oct. 31, marks eleven years since the publication of the Bitcoin white paper by the still-mysterious person or...
- Advertisement -

ArBinance is Changing the Crypto Arbitrage Game with the Click of a Button

ArBinance is a professional arbitrage trading platform that aims to revolutionize cryptocurrency trading by allowing its users to conduct crypto arbitrage through...

SmartMixer is Making Bitcoin Mixing Easier for a New Generation of Users

SmartMixer is Making Bitcoin Mixing Easier for a New Generation of Users SmartMixer.io is a new bitcoin mixing service especially geared toward...

Bitpanda goes global: Announcing the Bitpanda Global Exchange and the IEO for the ecosystem token BEST

Bitpanda goes global: Announcing the Bitpanda Global Exchange and the IEO for the ecosystem token BEST Vienna-based fintech Bitpanda...

Bitpanda digitizes physical gold and silver

Vienna, 13 May 2019 – Vienna-based fintech Bitpanda launches gold and silver trading for its 1 million users. The new...