Gold Bull Peter Schiff Still Thinks Bitcoin Is a “Fad” on Its Way to Zero

Gold bull Peter Schiff has not been convinced by the rally in Bitcoin’s price, despite the positive macroeconomic trends underpinning it. The long-time crypto skeptic doubled down on his sentiment in a number of tweets. He said that Bitcoin is a passing fad and is likely on its way towards zero. Schiff also said that Warren Buffett will never buy BTC, referencing the investor’s recent move to buy gold. Buffett buying gold has been a catalyst for many to say that those skeptical of Bitcoin will eventually buy it. Schiff does not seem to be one of those people, though. Peter Schiff: Bitcoin Is a “Passing Fad” Euro Pacific Capital chief executive Peter Schiff is still not convinced Bitcoin is a viable investment despite the ongoing rally and the macroeconomic backdrop. On August 15th, the investor commented: “Buffett’s decision to buy Barrick Gold and not Bitcoin or GBTC is a…

Read the original article here