Peter Schiff: Bitcoin still going to ‘collapse’; ‘death spiral’ of inflation coming (Pt. 1/2)
Peter Schiff asked for bitcoins for his son, crypto community responded
A post with a wallet number appeared on the critic’s microblog
Bitcoins will be a gift to his son on his 18th birthday
Many responded to the request of the critic
The CEO of Euro Pacific Capital, the main critic of Bitcoin (BTC) Peter Schiff asked the microblog subscribers to wish their son a happy birthday by sending him a cryptocurrency.
Many members of the crypto community drew attention to the fact that such a request looks comical, against the background of his regular attacks on the digital asset market. Some even suspected the businessman of selfish intent..
Since so many of you Bitcoin guys are ribbing me because my son @SchiffSpencer bought #Bitcoin, why not really rub it in by gifting him some as a belated birthday present. He turned 18 yesterday. He won’t lose his. Here’s his wallet address: 3AeFWb22AG1qXLEyz1hNLYiT1PF8nrNrnK
– Peter Schiff (@PeterSchiff) August 27, 2020
In a message calling for sending bitcoins to the birthday boy’s wallet, Peter Schiff noted that he didn’t just decide to ask subscribers for cryptocurrency. According to the CEO of Euro Pacific Capital, he is often criticized for his son’s interest in digital assets. By this act, Peter Schiff, who prefers to invest in gold, decided to justify the attacks of the crypto community members.
It is noteworthy that many responded to the critic’s request. At the time of this writing, 0.10599849 BTC (about $ 1200, at the current exchange rate) is stored on the wallet of Peter Schiff’s son. At the same time, the young man received the first transfer of bitcoins on the day his father published the post.
Many netizens, remembering the story of the loss of cryptocurrency by a critic, clarified whether he had made a mistake with the address. The “culprit of the fast” himself came to the aid of his father. The young man confirmed that the wallet address in the message is correct.
Notably, Peter Schiff issued a request to send bitcoins after the Fed promised to stimulate the economy and print money to the bitter end. This decision has already collapsed the dollar and it is likely that in the future such a policy will increase pressure on the American currency. Meanwhile, the amount of bitcoins is limited. This approach saves the coin from inflation..
The founders of the Gemini exchange, brothers Cameron and Tyler Winklevoss, drew attention to the fact that over the past six months, the American financial regulator has printed and poured into the economy 2/3 of the total volume of dollars in 11 years.
New USD Printing Speed
Against the backdrop of the risks of investing in US currency, many users preferred to focus on investing in bitcoins. Readers also considered Peter Schiff’s sudden interest in the coin not accidental..
The post of CEO of Euro Pacific Capital was the reason for many jokes. For example, members of the crypto community, in response to a critic’s request to send their son bitcoins, asked him to send them some gold for his birthday..
See Also: Old Men Need Gold, Young People Prefer Bitcoin – JPMorgan
Recall that it was previously revealed that the correlation with gold did bitcoin a disservice..
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