Peter Schiff Mocks Max Keiser's Bitcoin (BTC) Maximalism. Blockstream CEO Responds

Sun, 06/28/2020 - 14:39
Vladislav Sopov
Prominent anti-Bitcoiner 'Gold Bug' Peter Schiff launched an ironic poll, asking his audience about RT host Max Keiser’s future of Bitcoin (BTC) investments.
Cover image via

Peter Schiff, CEO of Euro Pacific Capital and a vocal Bitcoin (BTC) critic, asked his audience about the price of Bitcoin (BTC) and what could make Max Keiser sell his riches.

Throwing in the Towel

Mr. Schiff presumed four options and left subscribers guessing as to whether Mr. Keiser would have enough patience to hold onto his Bitcoins (BTC) at $2,000, $1,000, $100, or until it reaches zero. His followers didn't disappoint him.

Image via Twitter

Almost three quarters of the respondents are sure that Mr. Keiser will ride the Bitcoin (BTC) price down to zero. 11.5% of his followers wouldn't be surprised if he sells Bitcoin (BTC) when the price enters the three-digit waters.

Only one out of six voters were merciful to let Max Keiser sell between $1,000 and $2,000. 

This poll excited the global cryptocurrency community. Misha Lederman, Director of Marketing and Communications at TronWallet, claimed that those who lose their PIN codes and forget to save during recovery phase would better not to discuss Bitcoin (BTC) and the cryptocurrencies segment.

Adam Back Has Something to Say

Adam Back, a legendary cypherpunk and CEO of Blockstream (development studio that designs Bitcoin (BTC) solutions), criticized the maximalism of the 'Gold Bugs'. He presumes that Mr. Schiff will one day add Bitcoin (BTC) to his allocations.

He also admits the fact that he has a small gold hedge holding in his portfolio. However, the adoption of Bitcoin (BTC) is still way behind gold, so such a comparison is inappropriate. Yet, it's interesting for Mr. Back to know whether Mr. Schiff adds Bitcoin (BTC) to his portfolio before its mass adoption.

Peter Schiff commented that the peak of Bitcoin's market capitalization is long gone and that the flagship crypto is in a downtrend.

I doubt that was even near the s-curve top. but if you think so - how much gold are you willing to bet on that? 
 has XAU denominated BTC futures now.

Adam Back offered the investor a bet. He asked about how much Gold (XAU) he would need to stake to confirm that Bitcoin (BTC) never reaches a new all-time high (ATH) in terms of market capitalization.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (, Monoreto, Attic Lab etc.)

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