Winklevoss Checks on Bitcoin Critic Peter Schiff as BTC Price Smashes ATH
Lucas Cacioli Dec 17, 2020 04:45
As the Bitcoin price soars, Tyler Winklevoss checked in on BTC critic Peter Schiff, who is adamant that the market is rising on pure speculation.
As Bitcoin price soars into new realms of price discovery today, Bitcoin billionaire Tyler Winklevoss spared a moment to check on crypto critic Peter Schiff, who appears as adamant as ever that the market is rising on pure speculation.
Bitcoin is surging into realms of new price discovery gaining over 13% in the last 24 hours and now trading at an astonishing $21,800 at the time of writing, according to CoinMarketCap.
Bitcoin briefly surged over the $22,000 price level, causing jubilation for Gemini co-founder Tyler Winklevoss, who along with his twin brother Cameron is the first Bitcoin billionaire. He tweeted:
“Bitcoin is pumping above 22k. The bulls are getting ready to run wild”
The Bitcoin price has since fallen just under $22,000, but not before Winklevoss asked the Twitter community to check in on CEO and chief global strategist of Euro Pacific Capital Inc, Peter Schiff who has slammed all comparisons of BTC to gold.
Winklevoss posted moment after on Twitter:
“Has anyone checked in on Peter Schiff today?”
Schiff Defiant as Ever
Peter Schiff has become notorious for his criticism of Bitcoin’s true value and has become increasingly critical of comparisons of the crypto to safe-haven asset gold.
Schiff’s general thesis on Bitcoin runs completely counter to the Winklevoss twins who believe the Bitcoin will eventually completely replace gold and absorb $9 trillion of the yellow metal’s market cap by 2030.
The Winklevoss’s are not alone in this estimation and huge institutional bets on Bitcoin are taking place from investors like Paul Tudor Jones, MassMutual Insurance Giant and notably Microstrategy.
Microstrategy announced only days ago that it had raised an additional $650 million to invest into Bitcoin, and Schiff argue the market is surging on this news which he believes is pure speculation and believes BTC is in for a major correction.
Peter Schiff tweeted:
“Most likely Microstrategy will not buy $650 million worth of Bitcoin in the market. It can easily find whales willing to unload large blocks of Bitcoin above $20K in private transactions. That means all the minnows may be front running a trade that never actually takes place."
