Peter Schiff Denies Companies Selling Gold for Bitcoin

Spread the love

-Gold bug Peter Schiff denied reports of companies selling gold for bitcoin.

-Schiff criticized Michael Saylor for announcing the intention to buy $650 million in BTC, driving the price higher.

Gold bug and perpetual bitcoin opponent Peter Schiff denies that companies are selling gold in order to buy more BTC.

In a tweet published December 11, Schiff attacked reports of public companies offloading physical gold in order to buy more digital assets. He called the report a “gimmick” of bitcoin marketing and said the few companies buying bitcoin were using assets other than gold.

Earlier in the month, Schiff attacked Grayscale Investments for fueling the “bitcoin bubble” through its BTC Trust fund. The gold bug also criticized CNBC’s coverage of crypto-assets, accusing the outlet of running “non-stop ads” pushing bitcoin on investors and only featuring pro-bitcoin guests.

In a tweet published December 13, Schiff took aim at MicroStrategy’s founder Michael Saylor for alluding to the purchase of $650 million in additional bitcoin.

RECOMMENDED READ:  Virtual Assets Unleashes Retail Cash Reload Innovation for Purchasing Cryptocurrency

According to Schiff, Saylor’s announcement will drive the price of BTC higher prematurely, forcing shareholders to pay the price difference.

Featured Image Credit: Photo via Pixabay.com

 472 Interactions,  2 today

READ ALSO:
Synthetix, Tezos, Verge Price Movement Analysis for 24th February 2021

Tezos broke above 0.5 Fibonacci mark, targeting 0.618 and 1-levels at the back of its bullish on-chain metrics. Further down Read more

Chainlink, Cosmos, Enjin Price Movement Analysis for 24th February 2021

In the short term, Chainlink was expected to climb above its overhead resistance, with its indicators blinking green signals. Down Read more

Why bitcoin price likely to drop further

Bitcoin's latest price drop was not sudden, particularly because there were signs on the charts. In reality, there were many Read more

Bitcoin Cash, Dash, Ontology Price Movement Analysis for  24th February 2021

After market leaders Bitcoin and Ethereum recaptured key levels on their respective price charts, the larger altcoin market shone green Read more

RECOMMENDED READ:  Another Crypto Money Manager Drops XRP Following SEC Lawsuit

Leave a Reply

Your email address will not be published. Required fields are marked *

Contact Us

%d bloggers like this: