PakGazette – Peter Schiff, who is practically synonymous with his open skepticism about (BTC) and cryptocurrencies in general, may not seem like the obvious person to indirectly spark interest in digital assets. But the financial expert recently responded to a challenge from a follower who questioned his accuracy, especially as Bitcoin hit a new all-time high of around $110,000.
The message was clear: “You’ve been wrong about everything for over 15 years. Why does anyone still listen to you?” Schiff’s response offered an interesting insight into why some people, even if they disagree with him on Bitcoin, still find value in his views.
He said that even if he was wrong about Bitcoin, he was right about many other things in the financial world. Schiff says that its track record of getting things right, such as gold prices and broader economic trends, is what made many people decide to buy BTC in the first place.
These people relied on his other ideas and relied on their general knowledge of the financial markets, although they did not agree with the expert’s opinions on cryptocurrencies.
And if…
You might think this is a wild assumption on Peter Schiff’s part, but there is actually something to be said for it.
Considering how big a supporter of gold he has been all along, and the fact that many perceive the cryptocurrency as “digital gold,” including Federal Reserve chief Jerome Powell, everything Schiff attributed to the precious metal in terms of inflation could be extrapolated to Bitcoin as the same financial tool.
In this case, Schiff’s comments about inflation and how to save money when it is skyrocketing may have prompted some to buy Bitcoin.
