Since the closure of his bank in Puerto Rico, Peter Schiff has been at the receiving end of Bitcoin (BTC) proponents, reminding him this wouldn’t have happened if he was using BTC. The latest to taunt the gold proponent is none other than El Salvador President Nayib Bukele, who has had a fair share of interactions with Schiff ever since El Salvador adopted BTC as a legal tender last year. Bukele responded to one of the tweets made by Schiff in January this year criticizing BTC and predicting that the likes of MicroStrategy CEO Michael Saylor and Bukele himself would …

Prominent economist Peter Schiff, who is well-known in the community for his anti-crypto sentiments, had his bank shut down by Puerto Rico regulators. The revelation, however, led to Crypto Twitter pointing out the “irony” as Schiff’s prediction for Bitcoin (BTC) came true for his own traditional bank. Puerto Rico regulators closed down Schiff’s bank for not maintaining the net minimum capital requirements, which further impacted the customers as they lost access to their accounts following a subsequent freeze. Despite no evidence of crimes, Puerto Rico regulators closed my bank anyway for net capital issues, rather than allow a sale to …

The price of Bitcoin (BTC) has slumped below $40,000 for the first time in six weeks. The slide took place near the close of the day on Tuesday, with BTC prices having drawn down by 16% from nearly $47,300 at the start of the day to tag a local low of $39,650 at roughly 9 pm UTC. The move marked a 25% retracement from BTC’s local highs above $50,000 on Sept. 7. However, the pullback came after Bitcoin had gained more than 80% since hitting $29,300 on July 20 and then heading into early September’s highs. Bitcoin has since recovered …

Gold proponent and crypto skeptic Peter Schiff has been crowned the winner of a debate on whether gold is a superior store of value to Bitcoin (BTC). Schiff was facing off against Skybridge founder and former politician Anthony Scaramucci in a debate hosted by Intelligence Squared on Wednesday. Before the gold vs. Bitcoin debate began, a poll scored 38% of the online audience in favor of the precious metal, 26% for BTC, and 35% as undecided. Schiff had been able to swing a significant number to the precious metal by the end, with final results tallying in at 51% for …

Spencer Schiff, the son of gold bug and major Bitcoin (BTC) critic Peter Schiff, seems to have decided to move all his portfolio investments into one single asset, Bitcoin. “My son went all in on Bitcoin on the last drop below $50k. 100% of his portfolio is now in Bitcoin,” gold bug Schiff announced Wednesday on Twitter. The famous Bitcoin skeptic specified that his son sold the last of his silver stocks for cash. Schiff went on to express concerns over the investment choices of the younger generation, stating, “If my own son is this brainwashed imagine how vulnerable most …

Bitcoin (BTC) and Ether (ETH) are empowering but gold is "dead," billionaire Mark Cuban has told one of cryptocurrency's biggest naysayers. In a Twitter debate on Mar. 2, Cuban, who has become increasingly sympathetic to crypto, warned Peter Schiff that gold "will die" as a store of value (SOV). Cuban to Schiff: "Gold is dead, move on" Schiff, a gold bug who has long made a name for himself as a firm Bitcoin skeptic, continues to tweet disparaging comments about the phenomenon despite BTC/USD regularly hitting new all-time highs. Responding to remarks about Wall Street firms being "dumb" by buying …

Bitcoin (BTC) hit a new high over the weekend in the latest episode of its spectacular 2021 bull run — what’s next for hodlers? As the largest cryptocurrency approaches $60,000, Cointelegraph takes a look at the factors to consider when forecasting this week’s price action. Investor eyes stock market "reset" Equities showed no signs of flipping their endless upside on Monday, as buyers continued to pour in to the market. Despite warnings that a bubble may already be about to burst, markets built on all-time highs as anticipation of an economic recovery worldwide stoked enthusiasm. In the United States, it …

While his electric car company announced a Bitcoin purchase weeks ago, Elon Musk finally became a true Bitcoiner last night by engaging in a time-honored cryptoTwitter pastime: dunking on Peter Schiff. Yesterday morning Schiff, the noted gold bug and Bitcoin skeptic, posted a Tweet thread in which he criticized Elon Musk’s comment that Bitcoin is a flawed currency, though still better than fiat alternatives: According to @elonmusk "Bitcoin is almost as BS as fiat money." So Musk regards both #Bitcoin and fiat as BS. I agree, I just think Bitcoin, which is digital fiat, is even more BS than the …

The man who once said "Bitcoin will never hit 50K" has doubled down on the bearish prediction that Bitcoin (BTC) will eventually go to zero. Back in 2019, CNBC host Joe Kernen speculated that Bitcoin's price would reach $55,000 by May 2020. Peter Schiff mocked him at the time, saying "Bitcoin will never hit 50k." Though somewhat delayed, the price of Bitcoin hit a new all-time high of more than $50,000 this morning after rising 8% this week. Members of Crypto Twitter — including the gold bug's own son — threw Schiff’s words back at him. In the wake of …

Bitcoin (BTC) has had an interesting year, recovering from major sell-offs to eventually skyrocket to new all-time highs. However, Bitcoin's performance and cryptocurrencies increased adoption worldwide have still failed to bring some observers into the crypto camp. Yet compared to other bull run years like 2017, 2020 has seen much less crypto criticism, with a number of Bitcoin naysayers appearing to have somewhat softened their stance towards digital assets. As we look back on crypto in 2020, Cointelegraph has noted some of cryptocurrency's biggest critics. “Bitcoin has no future”: Russian politician Anatoly Aksakov Date of quote: Oct. 23, 2020 Bitcoin …

A Canadian restaurant chain known for serving shawarma, hummus, and other Middle Eastern delicacies has dropped some serious truth bombs about why Bitcoin (BTC) is a better store of value than gold. In a series of tweets, Ontario-based Tahini’s Restaurants explained why Bitcoin — and not gold — is the best way to preserve one’s wealth. “We looked our financial advisor in the eye and told him gold will turn into a scam because of bitcoin,” Tahini’s tweeted, before explaining why “gold’s years are numbered.” Contrary to what gold bugs think, the yellow metal’s true value comes from people and …

Shapeshift CEO Erik Voorhees has drawn a metaphorical line in the financial sand, stating that every asset manager should understand Bitcoin now based on its astonishing rate of return. Voorhees made the comments while retweeting data shared by analytics platform Messari co-founder Dan McArdle that shows Bitcoin has dramatically outperformed everything over the last decade. While gold has returned a 32% profit and the S&P 500 has tripled investors’ money, Bitcoin has posted an incredible 7,837,884% gain in ten years. Looking across its 10-year life, Voorhees believes Bitcoin is “vastly superior to any other investment.” He said that: “One could …