Bitcoin is on a bull run recently, so it is normal that the crypto asset will get more attention from the media than assets such as gold, right? Well, that is not what Peter Schiff believes.
Schiff, who is a well-known investor of the gold industry, was pretty pissed recently because CNBC is giving more attention to gold than it does for crypto. He accused the network of pumping Bitcoin by devoting far more airtime to it than gold. As it Bitcoin is not infinitely more interesting as a topic and investment than gold these days.
He also claimed that it is not the Chinese who are buying the Bitcoin, but speculators instead because they know that the market may bring some high returns pretty quickly and can be used as a safe haven.
Several media outlets are reporting that the price of BTC going up might have something to do with the current U. S.-China trade war, but Schiff remains considerably skeptic about it. He believes that the Chinese are not a part of the bull run and that this is all just fake news. When we consider that China actually banned crypto assets, that is not really an impossible theory.
Last week, the gold investor appeared on CNBC, ironically, on Ran Neuner’s crypto program. There, he once again bashed the crypto asset during a debate with the founder of the Morgan Digital Bank bank, Anthony Pompliano.