Peter Schiff; an invaluable Bitcoin Evangelist.
Whenever Peter Schiff is less busy with his precious metal retail; he spends his free hours on his keyboard tweeting about…well, you guessed right — bitcoin and cryptocurrency. More of bitcoin actually. For a man as intelligent and experienced as Schiff you could guess, he raises very interesting arguments; against bitcoin. Fact is, couple of times I tend to buy into his notion.
Popularly known for his stellar acts and expertise in precious metals retail and stock brokerage; Peter Schiff has built a reputation in the crypto space, not sure how prestigious it is, but way less than what he built with his gold-retail career. Personally, I think he has done a very impressive job trading gold, definitely making a fortune from that. For a 57-year-old stock broker, his preference for gold comes as no surprise at all.
Every Schiff’s ‘anti-bitcoin’ tweet is a war between the cryptocurrency community and real gold investors/enthusiasts. You’d find Antonio Pompliano and a couple other ‘cryptocurrency influencers’ countering his points, and cracking ‘jokes’ in the process. An act which has become a norm and has formed an important catalyst of the ‘bitcoin vs gold’ argument. A yardstick for bitcoin and cryptocurrency’s growth; price-wise.
Regardless of however you feel about Peter Schiff, the real truth is; he has contributed so much to the growth and publicity of bitcoin. You can comfortably compare his influence on bitcoin with the likes of Pompliano and Mark Cuban…lol. Of course, his anti-bitcoin notions have been proven wrong countless times and every time this happens, this creates a new set of believers.
Considering the fact that Schiff represents a very important figure in mainstream financial sector and a hero of the older business and investment age, his involvement in the cryptocurrency discussion albeit being antagonistic is a big plus to the crypto space. Over four hundred thousand (400,000) followers (consisting of investment-oriented individuals from different works of life and age) receiving Schiff’s anti-bitcoin tweets and watching those notions being proven wrong. Compared to other bitcoin and cryptocurrency influencers, Schiff has built a way more diverse and experienced audience. His constant ‘lost wars’ against bitcoin and the cryptocurrency community is enough to spell the end of era for his ‘gold loving’ followers, something other influencers are unable to do easily.
It is hard to guess how you feel about Schiff and his antics, or how much you know him actually; but personally, I feel he is an invaluable bitcoin evangelist, regardless. A very important force pushing the Bitcoin vs Gold debate, the debate which has unarguably been of more benefit to bitcoin than the later.
Even though the bitcoin vs gold debate doesn’t sound right to me; in my opinion, it represents an unplanned deviation from the initial idea behind bitcoin and cryptocurrency as a whole. It all seems we have deviated a bit from the initial idea and this deviation have grown over time, while comparisons could be a very interesting exercise, it is even more relevant when there exist some close similarities between the concepts being compared.
If we haven’t deviated from the initial idea or if we take some minutes to mull over these two concepts, we will realize the huge disparity between gold and bitcoin and why comparing these two seems a bit dumb. But well, that opinion will have to find somewhere to take a nap…lol.
Anyways, Schiff himself has announced that his son had gone all in on bitcoin, shunning gold. An act you’d expect from any young investor. If Schiff couldn’t stop his own family from going so deep into bitcoin and cryptocurrency, then his influence on the crypto space has been nothing but positive, invaluably positive!