The veteran gold and Bitcoin (BTC) skeptic is in the latest cryptocurrency news for taking delivery of $1,350 worth of the cryptocurrency. Peter Schiff admits that he has Bitcoin, after the industry pinpointed him and sent him donations on July 4.
Known for warning investors not to trust and invest in Bitcoin as replacement for gold, Schiff triggered the goodwill gestures after becoming the topic of a major Twitter debate with the co-founder of Morgan Creek Digital, Anthony Pompliano.
Also known as the “Pomp”, Pompliano highlighted the fact that Schiff in fact does own some BTC despite his negative comments. Peter Schiff admits that he has BTC – but responded that it was a token amount given as a gift – in the value of just $100. After that, Pompliano requested his BTC address in order to double it.
Others followed and at press time, Schiff’s wallet has 0.129 BTC which is equivalent of ,400 after 58 transactions.
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Peter Schiff admits that the Bitcoin sent to him has surprised him, thanking Pompliano and others when his balance still totalled only $130.
As many best cryptocurrency news sites reported, he wrote about the current Bitcoin bull run last week, stating:
“It doesn’t matter how high the price of Bitcoin rises unless you sell. Every buyer must eventually sell to realize any benefit from the rise,”
Peter Schiff has long been in the Bitcoin and altcoin news. The truth is, he is not entirely anti Bitcoin but his thoughts have always been quite pessimistic. Schiff Gold even offers Bitcoin as a payment method which is a huge irony considering the CEO’s views.
Many news sites commented that now that Peter Schiff admits of HODLing Bitcoin, other pessimists will do the same thing and decide to invest in the dominant cryptocurrency. However, no one knows if Schiff will be the turning point that everyone needs.
Meanwhile, the markets show a steep correction this morning. Bitcoin is trading at $10,974 while Ethereum is at $285 and Ripple is at $0.37. All of the top three coins are above their safety marks and the total market cap lost more than $10 billion overnight – going to $314 billion at press time.
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