Nasa’s gold asteroid that we wrote about in our latest cryptocurrency news, is reportedly Fake news and the rumor was released just to pump the price of Bitcoin according to the bitcoin skeptic Peter Schiff.
Goldbug Schiff is doubting that the massive Golden asteroid is actually real and whether it has so much gold on it. According to the CEO of the Euro Pacific Capital company, the report is ‘’just nonsense’’ and is being propagated by the entire bitcoin community just to make the cryptocurrency even more popular. Schiff stated that the alleged existence of the gold asteroid is not based on science:
‘’It’s just BS, it’s not a scientific or economic story, and it’s just nonsense. It is being floated by the bitcoin community to try to create the false narrative that gold supply is not scarce so the price of gold is going to crash and that people should own bitcoin instead of gold because bitcoin is more scarce, because you’ll never find any bitcoin on the asteroid.’’
Schiff also believes that Nasa’s gold asteroid possesses a composition similar to the core of the Earth. Therefore, it must contain high levels of iron-nickel alloy. He acknowledged that the asteroid could contain very small amounts of other metals including gold. However, the Bitcoin skeptic warned that to bring the gold to the earth will be an extremely expensive process:
‘’There could be some gold there but it would cost a fortune to mine it there.’’
Despite the existence of the 16 Psyche asteroid has been known for a long time, Nasa had plans to send an exploration mission in 2022. For the bitcoin enthusiasts, the end result is that gold derives its worth from the perceived scarcity now is slowly losing its value proposition. It is also not as rare as Bitcoin whose supply is set at 21 million. As noted in the coming altcoin news, the co-founders of the Gemini exchange- the Winklevoss twins, predicted that space mining will lead to decrease in the price of the precious metals so Bitcoin will remain the only truly fixed asset in the world.
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