The crypto world has experienced what has undoubtedly been the best period in its history. After an increase in the demand for Bitcoin by institutional investors, it triggered the price of the cryptocurrency, creating the largest bullish rally in its history. Despite which, crypto skeptics like Peter Schiff continue to distrust cryptocurrency. Reason Peter McCormack responds to Peter Schiff in the Tweet of today:
Peter Schiff vs Peter McCormack
For many years, the most visible face of the crypto skeptic community has been Peter Schiff. And, the gold magnate has commented on many occasions that he does not consider Bitcoin to be a financial asset with intrinsic value. If not, on the contrary, BTC would be just a speculative asset in Schiff’s eyes.
This has led to Peter Schiff frequently advising investors not to enter the Bitcoin market. Which, after the last bullish rally in the price of BTC, has undoubtedly caused many people to miss out on making millions of dollars in profit. Precisely what Peter McCormack reproaches him.
And it is that, in front of a Schiff tweet in which he criticized the praises that are made to Grayscale, as if all his purchases were made by sophisticated institutional investors, thus attracting novice investors. Peter McCormack responded by reminding Schiff of all the money he made people lose with his advice.
«You literally tricked newbie investors into missing out on investing in Bitcoin, which cost them probably millions of dollars in added value. Stop pretending you are a sophisticated investor».
In this way, Peter McCormack would be fighting against the crypto-skeptical narrative promoted by Peter Schiff. Who has consistently presented himself as a successful investor, despite having ridiculed for years the potential of Bitcoin and cryptocurrencies.