Bitcoin Hater Peter Schiff Admits He Owns Some Bitcoin

Is Russia Really Planning a 10 Billion Dollar Bitcoin Buy?

In a tweet on July 5, 2019, Anthony Pompliano, Bitcoin proponent and Morgan Creek Digital Assets cofounder announced that Peter Schiff, the renowned Bitcoin hater, and Euro Pacific CEO admitted that he actually owns some Bitcoin. As such, people should never listen to the advice of Bitcoin skeptics but always watch what they do with their money.

Bitcoin Hater Admits He Owns Bitcoin

The early hours of today came with an argument between Pompliano and Schiff after the co-founder revealed that Schiff actually owns some Bitcoin. According to Pompliano, the long-time nocoiner admitted that he does have some Bitcoin. For this reason, people should never heed the words of Bitcoin bears, but instead, watch where they put their money.

While responding to Pompliano’s message to the crypto community, Schiff, a veteran gold bug said the only Bitcoin he owns is worth $100 which he was gifted. He further revealed that he has small amounts of Bitcoin Cash and Ethereum.

I own about $100 worth. It was a gift.

Pompliano, on the other hand, asked Schiff to drop his Bitcoin address in order to send another $100 BTC to him.

In his own words:


“Myself and a few other Bitcoiners will send you some Bitcoin. You nail the issues we are facing, but just need to upgrade the solution from gold to Bitcoin! You’re already a Bitcoiner and haven’t even realized it yet :)”

Schiff Finds it Hard to Find Bitcoin Address to His Wallet

What was interesting to note, is how long it took the critic to find his Bitcoin address. The first address that was posted looked nothing like a Bitcoin address and Pompliano said he should speak to him privately so he can be directed on how to go about it. Nonetheless, Schiff was finally able to navigate his way around to find a BTC address.

The CEO revealed that he has received $130 BTC and he’s going to hold it to go down with this ship, a comment he has made in the past to point out that Bitcoin will not rally to new highs. The BTC address in question, as at press time is holding 0.13163288 BTC valued at about $1,400. It seems Pompliano is not the only one to have donated to Schiff since the cryptocurrency community has also sent in their donations.

Crypto Community Comments on Event

The crypto community, on the other hand, had something to say about the play that was unfolding. A user, for instance, advised that Bitcoin should not be sent to “this already filthy rich scumbag,” rather, it should be donated to core and lightning developers who have contributed to what Bitcoin is today and “FOR FREE!”

Peter Schiff is well known for his negative comments about Bitcoin, the top crypto asset by market cap. On September 4, 2017, he said how can anyone consider that Bitcoin is a safe haven asset when its price dumps by nearly 20% over the weekend filled with geopolitical risk. On May 3, 2019, Schiff said: “Bitcoin has no value, so there is nothing to store…Bitcoin has no use in the present, so there is nothing to store for the future.”