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Bitcoin (BTC) Will Plummet According To Peter Schiff

Renowned sceptic of Bitcoin, Peter Schiff has, once again, brought up his point regarding ‘cryptocurrencies are bunk’ back to the light.

Schiff appeared on The Joe Rogan Experience podcast for the third time to attempt to reiterate his point and say mostly negative things about virtual currencies such as how he believes the price of Bitcoin will evidently crash and sink below $1,000. Schiff also mentioned that the debate he had with the, Eric Voorhees (CEO of Shapeshift) was ‘rigged’.

Schiff vs. Voorhees

So, let’s quickly go through that debate Schiff had with Voorhees.

When Schiff went on the podcast but a few days ago, they ended up talking about his debate with Voorhees. It’s no surprise Schiff keeps coming back on to the show as whenever Schiff is brought on the Joe Rogan podcast, they can get up to a million views

  • Schiff argues that he was rigged in the debate saying:

“Technically, I lost the debate, but I think it was rigged.”

  • Schiff also said that his loss was due to the pro-Bitcoin audience
  • He also believes the audience was told to lie on the initial poll about how they really felt to make him result in defeat

Bitcoin will fall

After describing Bitcoin fanatics as ‘tribal’ considering their devotion to the cryptocurrency.

Schiff went on to admit that he missed the train from the creation of Bitcoin to present day.

But apparently, Schiff knew back then that the virtual currency was a ‘scam’ and even went on to say that it was a bubble which is making a lot of people destined to be financial hurt in the future.

It’s been about a decade of Peter Schiff predicating the end of Bitcoin and whereas it’s had its downs it’s ironically seeing a jump in price after hitting the $7,000 earlier this week.

Still, Schiff still believes that eventually Bitcoin will drop below the $1,000 level and that’s when problems are going to be made.

 


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