Crypto’s Big Enemy Schiff Responds To Dorsey, A Big Bitcoin Supporter, On The ‘Role’ Bitcoin Can Play in Preventing Hyperinflation
Prominent Bitcoin critic, CEO of Euro Pacific Capital and chairman of SchiffGold, Peter Schiff, has responded to a tweet by Twitter CEO Jack Dorsey about the possible arrival of hyperinflation in the U.S. soon.
“Only” real assets “can protect against hyperinflation”
On October 23, Twitter CEO Jack Dorsey took to Twitter to share his take on the current economic situation in the United States resulting from the foreclosure of the economy in 2020 and the printing of money. constant that has been carried out since then to help the American population survive the pandemic. .
Dorsey tweeted that hyperinflation is coming: first in the U.S., then in the rest of the world.
Schiff tweeted in response that Bitcoin is unlikely to be good if hyperinflation happens. It is only “real assets” that can help survive it, he claims. Schiff added that gold qualifies as a real asset and Bitcoin does not.
“Bitcoin is an” imaginary friend “
In another comment from the thread, Schiff compared Bitcoin to imaginary friends children sometimes have, calling Bitcoin “pretending to have an asset” and saying that the concept of imaginary friends works here but is suited to people. adults.
Besides, he again reminded Bitcoin lovers about various ways of utilizing gold in various industries, saying that Bitcoin cannot beat the “shiny metal” here.
