“There is no real value in bitcoin.” These are the words of Peter ‘Gold Bug’ Schiff whose Schiff Gold, as it recently turned out, accepts bitcoin cash (BCH).
The economist and infamous bullion dealer Peter Schiff has been a bitcoin hater for quite some time.
Although he and his Schiff Gold, a precious metal dealer founded in 2010, believe precious metals is the best solution for a safe-haven asset, they recognize BCH has its place, too:
“We strongly recommend physical precious metals as the best long-term, safe-haven… However, we also support any free market approach to money and barter and recognize bitcoin as a valid payment system. We are proud to work with Bitpay to process your transaction in bitcoin.”
Mr. Schiff started accepting crypto after becoming the topic of a Twitter debate with Morgan Creek Digital co-founder, Anthony Pompliano. Mr. Pompliano revealed that Schiff does in fact own some BTC despite his negative comments. Schiff responded the BTC was given as a gift – just $100 – after which Pompliano requested his BTC address in order to double it. Others subsequently followed the suit. At press time, Schiff’s wallet contained a balance of a little under $2,000.
“I guess I’ll have to hodl it and go down with the ship,” Mr. Schiff commented at the time.
But during the Libertycon conference in Washington, DC, Mr. Schiff additionally explained the audience that usually he immediately cashes out into fiat after receiving crypto.
Bitcoin cash supporters were without a doubt pleased to hear about Schiff Gold accepting BCH. His firm joins other precious metal businesses that accept cryptocurrency which include JM Bullion, Silvergoldbull, and Apmex.
As it turns out, Peter Schiff is in fact not entirely anti-Bitcoin.
Image: Peter Schiff’s Twitter
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