Bitcoin’s (BTC) fresh bull run this week is down to speculators betting on Chinese economic upheaval, not Chinese upheaval itself, Peter Schiff claims. Schiff: speculators buying Bitcoin to speculate In a tweet Aug. 5, the veteran gold bug and well-known Bitcoin naysayer claimed that current events impacting the Chinese economy did not cause fresh interest in Bitcoin. “The Chinese aren't buying Bitcoin as a safe haven. Speculators are buying, betting that the Chinese will buy it as a safe haven!” he wrote. As Cointelegraph reported, BTC/USD has shot up over the past 24 hours, with many commentators eyeing a fall …

Bitcoin (BTC) will make Peter Schiff’s gold arguments redundant if there is just a 1% chance it will succeed, Anthony Pompliano has told mainstream media. ‘You will be kicking yourself forever' In a hotly-awaited debate with gold bug Schiff on CNBC Africa July 31, the Morgan Creek Digital co-founder took the opportunity to talk about a Bitcoin future. After almost an hour of talking, Schiff had summarized that Bitcoin has become a form of religion, and that investors were blind to reality, hoping only to get rich from their holdings. “When you’re in a bubble, you can’t see the bubble,” …

Veteran gold bug Peter Schiff will debate the precious metal’s utility against Bitcoin (BTC) in a dedicated event with Anthony Pompliano, the latter confirmed on Twitter July 10. Pompliano, the co-founder and partner at Morgan Creek Digital known in the industry as Pomp, said he hoped to convince Schiff that Bitcoin was a worthwhile investment. “Peter should get a lot of credit for agreeing to this. Hopefully he walks away a Bitcoin believer,” he wrote announcing the debate, which will occur at an unspecified date on CNBC. Schiff, well known as a Bitcoin skeptic, has made various public appearances in …

Veteran gold bug and bitcoin (BTC) skeptic Peter Schiff has accepted delivery of $1,350 worth of the cryptocurrency after the industry sent him donations on July 4. Schiff, who is well known for warning investors not to trust bitcoin as a replacement for gold, triggered the goodwill gestures after becoming the topic of a Twitter debate with Morgan Creek Digital co-founder, Anthony Pompliano. Pompliano (also known as Pomp), highlighted the fact that Schiff does in fact own some BTC despite his negative comments. Schiff responded that the BTC was a token amount given as a gift - just $100 - …

Former Wall Street trader and host of the Keiser Report Max Keiser was leading the backlash against the bitcoin (BTC) naysayers this weekend as the bitcoin price passed $11,000. Using Twitter as a platform, Keiser focused on gold enthusiasts after several claimed that despite its performance, bitcoin was still an inferior bet to the precious metal. Among them was Peter Schiff, the veteran gold bug who has regularly trashed cryptocurrency both informally and via interviews while ironically also accepting it as payment. “It doesn't matter how high the price of Bitcoin rises unless you sell. Every buyer must eventually sell …

American stock broker Peter Schiff “technically lost” to ShapeShift CEO and crypto commentator Erik Voorhees in a ‘Bitcoin Debate’ at the SoHo Forum July 2. The two financial thought leaders debated about the top cryptocurrency Bitcoin (BTC) and its underlying technology blockchain, questioning the potential for mass adoption, and comparing Bitcoin and other cryptocurrencies with other asset types such as fiat money and gold. Voorhees, the Bitcoin bull of the debate, claimed that Bitcoin will eventually become a substitute for state-backed money, while government structures would be reorganized using blockchain technology. Voorhees argues that Bitcoin is “supremely good money” praising …