$BTC Peter Schiff criticized bitcoin supporters
An economist and popular bitcoin critic published a post on social media where he criticized the holders of the flagship cryptocurrency. He described a hypothetical scenario in which all American companies sell off their assets and cease operations. In a joking manner, he advised organizations to invest all proceeds in bitcoin purchases. In his opinion, only then can bitcoin demonstrate sustainable growth and enrich its investors.
One of the users noted that, yes, in this case, crypto-enthusiasts will get rich, but Schiff himself - no. But the economist objected, noting that he too will receive his dividends on the realization of such a scenario. The specialist explained that he invested most of his funds in the shares of oil companies. And if U.S. organizations sell off their businesses, industry securities will soar in value.
Schiff further noted that the scenario he described would certainly enrich bitcoin investors. But it makes no sense, as all goods and services will simply disappear from the global market and there will be nothing to own. This position of the expert no longer surprises anyone, as he has long been a systemic critic not only of bitcoin, but also of the entire cryptoindustry. Schiff in every way encourages his subscribers to invest in traditional assets, believing that digital coins are devoid of a future.
Many users parry the thesis of the economist, noting how much bitcoin has risen in price since its appearance on the global market. Also, many subscribers point out that the Internet used to be perceived as “geek entertainment.” However, it is now playing a crucial role in the development of humanity and people's interaction with each other.
