Bitcoin (BTC) skeptic and gold bug Peter Schiff is unwittingly advertising the cryptocurrency’s virtues over other investments, says the CEO of exchange Binance. In a tweet on Jan. 25, Changpeng Zhao (known as “CZ” in crypto circles) argued Schiff was failing in sewing distrust of Bitcoin among social media followers and beyond. CZ: We need more “negative voices” “I think Peter is doing great to promote bitcoin. He probably does not realize that given his illogical reasoning, most people will do exactly opposite of what he says,” he wrote. CZ concluded: “We need more of these types of ‘negative’ voices.” …

Changpeng Zhao, the co-founder and CEO of cryptocurrency exchange Binance, suggested that for most, keeping crypto assets on an exchange is safer than keeping the keys themselves. Zhao gave his comments in a tweet on Jan. 19 after famous crypto skeptic and gold bug Peter Schiff complained that he lost access to his Bitcoin (BTC). Invoking the phrase “SAFU” — a slanger term in the crypto community for “safe,” Zhao said: “Many hardcore crypto [organizations] advocate storing your own keys. But the truth is, today most people are not able to secure a key even from themselves (losing it). A …

On Jan. 19, famous crypto skeptic and gold bug Peter Schiff claimed on Twitter that he has lost access to his Bitcoin wallet and that his password is no longer valid. Schiff added that his BTC is now intrinsically worthless and has no market value. He also added that: “I knew owning Bitcoin was a bad idea, I just never realized it was this bad!” Getting to the bottom of the issue After Schiff tweeted about his loss, the crypto community was quick to jump to the rescue. For example, co-founder and partner at Morgan Creek Digital Anthony Pompliano responding …

Bitcoin (BTC) rising above $8,500 appears to have left gold proponent Peter Schiff with egg on his face after he predicted its imminent downfall to $1,000. Data from Cointelegraph Markets and precious metals monitor Kitco showed that while Bitcoin has gained 7.5% over the past week, gold has conversely slipped 4%. Gold expected to hit $1,500 lows After reaching highs of $1,610 on Jan. 8, XAU/USD has fallen dramatically, trading at $1,546 as of press time on Tuesday. The trend is all the more conspicuous to cryptocurrency supporters, coming at a time when geopolitical upheaval centered on Iran seemed to …

Famous gold bug Peter Schiff made another anti-Bitcoin (BTC) claim, pointing out that it’s the only asset class that is not rallying by the end of 2019. As United States stocks recently hit new all-time high, Schiff has provided his sarcastic remark that Bitcoin’s price doesn’t correlate with performance of other asset classes such as U.S. stocks, precious metals and others. Schiff tweeted on Dec. 27: “Bitcoin is not disappointing those who claim its true value is that it’s a non-correlated asset. Every asset class in the world is rallying into the end of the year except Bitcoin. Not sure …

Bitcoin (BTC) proponents have ridiculed one of the cryptocurrency’s most infamous critics after he delivered a highly bearish price prediction. In a Twitter debate on Nov. 21, commentators joined forces against Peter Schiff, who claimed BTC/USD was set for a dive as low as $1,000. Schiff: $1,000 would “complete the pattern” for BTC Arguing current price action correlated to a “head and shoulders” formation, the gold bug forecast a dramatic downturn would characterize markets in the future. He summarized: “#Bitcoin is nearing the neckline of the head-and-shoulders top I pointed out before the Oct 25th 40% pump. The right shoulder …

China launching a digital counterpart of the yuan backed by gold puts Bitcoin (BTC) at a disadvantage, veteran gold bug Peter Schiff claims. In a tweet on Nov. 2, Schiff, notorious for his cynicism when it comes to Bitcoin, attempted to counter criticism of his stance by Keiser report host, Max Keiser. Schiff tells Keiser: gold backing beats BTC “According to @maxkeiser I'm an idiot because I think #gold is better money than #Bitcoin,” he wrote. Schiff also repeated his oft-quoted idea that Bitcoin has no intrinsic value: “He also claims China is about to launch a crypto currency backed …

HODLer of a bygone era, Peter Schiff has argued that retail investors are getting squeezed by whales’ tactics on the cryptocurrency markets. In a tweet posted on Oct. 29, Schiff — a diehard gold proponent — said: “Bitcoin hodlers won't sell as they believe they'll get rich when #Bitcoin moons. Bitcoin whales get rich by selling now to realize their paper gains before a market crash wipes them out. The whales must make sure the hodlers don't lose faith and cash out so that they can cash in!” Gold recent tumble Schiff’s comments come after a week of dazzling market …

Bitcoin (BTC) price is heading to $4,000 after breaking support to trigger a sudden bear market, says one of its most prominent critics. Gold bug pounces on Bitcoin price drop In a tweet on Sept. 24, gold bug Peter Schiff returned to bashing Bitcoin as it fell from $9,700 to a low of $7,990 in hours. Subsequently correcting to circle $8,500, the recovery was not enough for Schiff, who claimed the shedding of $1,800 was just the start. “Bitcoin has finally broken below the support line of the large descending triangle it has been carving out for months. This is …

Bitcoin (BTC) has shown it is not a safe haven asset, gold bug Peter Schiff has said after the largest cryptocurrency dropped 7% in daily trading. In a tweet on Aug. 28, Schiff, who has become increasingly known as a Bitcoin naysayer, claimed BTC/USD dipping below $10,000 once again on Thursday put pay to theories it functioned as a hedge against fiat volatility. Schiff: Bitcoin “failed safe haven test” “Bitcoin has again failed the safe haven test. On Friday, as escalating trade tensions sent global stock markets plunging, investors sought refuge in monetary safe havens. The Japanese yen, Swiss franc, …

Bitcoin (BTC) prices will never make it to $50,000, gold bug and crypto skeptic Peter Schiff has claimed in the latest attack on the world’s largest cryptocurrency. “This is hysterical” In a social media debate on Aug. 20, Schiff, who is well known for his dislike of Bitcoin, said that gold will 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 “Pomp” Pompliano. “Prior the 2008 financial crisis, when I was still invited on CNBC, Joe was critical of my advice to buy gold. …

Bitcoin (BTC) price was feeling the pressure Aug. 14 after a fresh downturn saw the largest cryptocurrency settle below $10,500. Market visualization. Source: Coin360 Trade war tensions relief lifts markets, sinks Bitcoin price Data from Coin360 painted a gloomy picture for investors Wednesday, with BTC/USD trailing 7.2% daily losses. Bitcoin 7-day price chart. Source: Coin360 The latest in what has become a recognized pattern in recent months, Bitcoin reversed its previous successes from the weekend, when geopolitical uncertainty and fiat currency weakness in several jurisdictions pushed markets above $12,000. In particular, it was Hong Kong and Argentina fuelling the theory, …