While Nayib Bukele, the president of El Salvador, is considered one of the most prominent Bitcoin advocates, Peter Schiff is known as one of the most prominent Bitcoin opponents.
Nayib Bukele introduced Bitcoin as a legal tender in El Salvador in 2021 and has been advocating for the cryptocurrency for a long time. After an authority froze the accounts of a bank of Peter Schiff, Bukele teased Schiff on Twitter. Binance CEO Changpeng Zhao also intervened.
Bitcoin and Peter Schiff: Karma?
Peter Schiff is an economist and author who is particularly well-known in the USA. He predicted the crash of 2008 and has since been seen again and again on US television. The Bitcoin critic described Bitcoin as a “worthless asset with no intrinsic value” and BTC mining as an absolute waste of energy. His extremely critical attitude towards Bitcoin and his crypto-critical tweets repeatedly caused a lot of conversation in the crypto community. For several years, even new Peter Schiff crypto memes have been circulating on the net.
Then, on July 1, 2022, local authorities closed the Euro Pacific International Bank, which founded Schiff in Puerto Rico. According to Peter Schiff, there is no evidence of criminal offenses that justifies the closure. Instead, the equity problem is the reason for this. Nevertheless, Schiff criticized the fact that the accounts were frozen and an external capital increase was not possible.
This news led to the fact that more and more BTC supporters turned to Peter Schiff to draw his attention to the fundamental advantages of the cryptocurrency. No one can freeze your Bitcoin wallet and you don’t need banks to send BTC to anyone. If Schiff had used a solid cryptocurrency platform instead of a bank, then the authority could not have frozen his accounts. Does Bitcoin have intrinsic value?
Peter Schiff: A picture of BeInCrypto.com .
Nayib Bukele and Binance CEO Mingle with
In addition, the President of El Salvador, Nayib Bukele, also spoke. Bukele asked Schiff in a tweet:
“How is your bank”?
How’s your bank going?
– Nayib Bukele (@nayibbukele) July 6, 2022
In the tweet, Nayib Bukele also tagged Bitcoin investor Michael Saylor. The tweet was a response to an earlier tweet from Schiff, in which the gold proponent repeatedly criticized the two and Bitcoin.
The economist then argued on Twitter that his critical statements about the political events were one of the reasons for the closure of the accounts, and this, in turn, would confirm his criticism. However, Peter Schiff still does not seem to be considering that crypto could be the solution to this problem.
Binance CEO Changeng Zhao also got involved in the discussion and shared an old meme that has been circulating in the crypto space for a long time.
Gold advocate and Bitcoin opponent Peter Schiff predicted for years that the Bitcoin price will fall, while the BTC price reached one all-time high after another. With the meme, the co-founder of the world’s largest crypto exchange alludes to Schiff’s Bitcoin price forecasts.
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