The continuous story about the golden asteroid Psyche 16 allegedly contains humongous amounts of precious heavy metals which is “whole bunch of nonsense,” according to the CEO of Euro Pacific Capital, Peter Schiff.
Speaking in an interview with RT, Schiff said that even though there is a metallic asteroid belt between Mars and Jupiter, no one could know for sure what is in it.
“It is a rare metallic asteroid with a composition similar to the Earth’s core. It’s made almost entirely of an iron-nickel alloy, with small amounts of other metals, likely to include gold.”
“But I mean maybe there’s no gold there, we don’t know. They don’t have any idea, they don’t know that there’s gold on that asteroid. There could be some gold there but it would cost a fortune to mine it there.”
Schiff is known for predicted the 2008 market crash and whilst speaking on the asteroid he added that the whole fiasco is being spread to pump up the price of Bitcoin.
“It’s just BS, it’s not a scientific or economic story, and it’s just nonsense,” he said, adding: “It is being floated by the bitcoin community to try to create the false narrative that gold supply is not scarce so the price of gold is going to crash and that people should own bitcoin instead of gold because bitcoin is more scarce, because you’ll never find any bitcoin on the asteroid.”
According to the CEO, it is possible that there could be the mining of asteroids in the future but not in our lifetime.
In other news, the well-known Bitcoin naysayer has taken delivery of $1,350 worth of BTC after the industry sent him donations.
This goodwill gesture came after a few Twitter interactions with the co-founder of Morgan Creek, Anthony Pompliano (pomp).
Pomp started off claiming that Schiff owned Bitcoin, claiming no one should believe what ‘they say’ to which Schiff simply said:
“I own about $100 worth. It was a gift.”
Pomp generously offered to double that amount and asked for his Bitcoin address (which is
1LZpj4zkgcGzGb9EuLLbwby1BPT3c1uRTy, for anyone who wants to donate), which encouraged others to do the same.
Maybe this will be the kick Schiff needs to hop on the Bitcoin bandwagon, but something tells me he wouldn't admit it, even if it was!