After the viral Bitcoin tweet posted by J. K. Rowling, it seems like the whole crypto was suddenly under the Confundus spell, which was used in the Harry Potter universe to bewilder your target.
Peter Schiff, the CEO of Euro Pacific Capital, also fell victim to the charm as he apparently tried to argue with a fake Rowling account about the intrinsic value of Bitcoin.
Rowling takes over Bitcoin Twitter
The gold bug trotted out the tired argument about gold being used to make jewelry (as opposed to Bitcoin, which is just a piece of computer code).
Little did he know that he replied to a Twitter account that belongs to pseudonymous crypto trader and analyst BitLord who impersonated Rowling to troll Schiff.
The gold proponent chose to have another tiff with members of the cryptocurrency community instead of checking whether he was replying to the legitimate account.
Coinbase CEO Brian Armstrong also had his facepalm moment after trying to convince another bogus Rowling to open an account with his exchange.
Bitcoiners get back at Schiff
The fact that crypto proponents gloated over Schiff’s failure shouldn’t come as a surprise.
Schiff is known as one of the biggest detractors of Bitcoin who calls it a ‘fraud’ and routinely predicts its inevitable demise.
Back in January, Schiff was ridiculed for losing access to his crypto wallet (and exposing his lack of fundamental knowledge about Bitcoin).