Bitcoin causes Max Keiser and Peter Schiff to argue
Bitcoin causes Max Keiser and Peter Schiff to argue
Bitcoin

Bitcoin causes Max Keiser and Peter Schiff to argue

By Marco Cavicchioli - 3 Aug 2020

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For some time now there has been a real clash between gold supporter Peter Schiff and Bitcoin pioneer Max Keiser

Peter Schiff is known not only for his positions in support of gold, but also for the numerous stances against Bitcoin, which in his opinion has no prospect of becoming digital gold. 

He is also the founder and president of SchiffGold. 

Max Keiser is a Bitcoin supporter, but he is also interested in gold and silver. 

Their rivalry has been going on for a long time, ever since October 2017 when the two had a heated debate about the links and differences between Bitcoin and gold. 

The conflict has recently gotten heated, with Keiser declaring: 

“The biggest loser so far in the history of Bitcoin is a failed money manager in the U.S. named Peter Schiff”.

In another tweet he even wrote:

“Peter Schiff is ‘puking his brains out’”.

The clash between Max Keiser and Peter Schiff

The reason that has reignited the spirits is a recent forecast on the price of Bitcoin by Keiser, according to whom BTC is destined to rise, as it has done in recent weeks, so much so that it could reach $28,000, before entering a period of correction. 

In fact, he claims that, after this hypothetical correction, it could resume the trend towards the six figures, i.e. with a multiplication by ten of its current value. 

The thing is that a few days ago gold peaked at its all-time high on the US dollar, and its price remains so strong that it is still in that area, i.e. just over $1,950.  

According to Schiff, Bitcoin would be in a period of decline in the long term since December 2017, when its price reached an all-time high of $20,000, and therefore it would not be destined to rise again but to fall. 

It is worth pointing out that in the past Schiff hasn’t accumulated a lot of forecasts that turned out to be correct about Bitcoin, if anything he has been wrong many times

For example in early March 2020, when the price was about $9,000 he said

“If Bitcoin won’t go up, why own it? The answer to that question is sell”.

Whereas now the price has risen to over $11,000

The clash between Max Keiser and Peter Schiff revolves around this very issue, namely his expectations regarding the evolution of Bitcoin’s price. 

Keiser says it is growing, and in the long run it will grow again, while Schiff says it is falling, and in the long run it will fall again. 

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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