Bitcoiners Attracted By Asteroid, Midas Rock; Gold Enthusiast, Peter Schiff Bashes the Latter
For some time now, what Bitcoin [BTC] should serve as has been debated in depth. Questions regarding the giant crypto includes whether it should serve as a currency or store of value. For a gold enthusiast like Peter Schiff, comparing the likes of BTC to that of gold is supposedly unbearable.
According to AMB Crypto, the new topic of discussion is that of the Midas Rock, an asteroid which is said to be situated between the orbits of Mars and Jupiter. Some of its specs include not only gold, but also platinum, iron and nickel shared news outlet, The Sun. Due to its richness in elements, many trust that it carries a total value of roughly £8,000 quadrillion.
How does Schiff feel about this? It turns out that he deems Midas Rock “fake news”, emphasizing that the falsification is in relation to Midas Rock being called a “golden asteroid”. He further noted that such claims are done merely to pump Bitcoin.
His devotion to gold led him to make strong claims against BTC: one of them being that Bitcoin is likely to fail. Apparently, Schiff has always been persistent in his stance in regard to the latter. AMB Crypto further noted that the gold enthusiast gave the example of how gold is truly a store-of-value by referencing his 24K gold cufflinks. This reference was provided to depict gold’s properties, which he believes will never drop even after 100 years.
While Schiff is not shutting down Midas Rock’s claims of housing aspects of gold, he questions the overall reality behind it – stressing that society lacks essential technology and mining tools to efficiently mine Midas Rock.