“Bitcoin Price Will Never See $50,000 BTC/USD”, Peter Schiff Tells Tom Lee
The famous gold bug and Bitcoin skeptic Peter Schiff has attacked the crypto asset once again. According to Schiff, Bitcoin is never going to hit the $50,000 USD price mark. According to him, gold may eventually reach $5,000 USD, but Bitcoin never will hit the $50,000 USD mark.
From the guy who had a $50,000 price target on Bitcoin for year end 2018. My gold forecast came a lot closer than your Bitcoin forecast. Plus at least gold will eventually hit 5k. Bitcoin will never hit 50k.
— Peter Schiff (@PeterSchiff) August 21, 2019
He affirmed that during a recent debate with Joe Kernen, who interviewed Anthony Pompliano recently. Schiff affirmed that the CNBC host was wrong before the financial 2008 crisis when he was bearish on buying gold and is wrong again on being bullish on BTC.
Kernen obviously answered him back. He affirmed that Schiff was wrong when he affirmed that gold would reach $5,000 USD and that this objective is still far from happening. This prompted Tom Lee, the co-founder of Fundstrat Global, to describe the gold investor as someone
Schiff got irritated with them and then declared that the BTC price would eventually fall again. According to him, Bitcoin would never reach the all-time highs described the other men and would lose a lot of its value soon. Gold, however, would continue to become more valuable as time passes.
Some people on social media were mad at Schiff because, despite hating BTC so much, he actually owns it. He received some donations months ago and never really sold the assets. He also accepts BTC as a payment for his gold business, which prompted Crypto Twitter to attack him for that as well.