Our dear friend, the one and only, Peter Schiff, has only gone and done it again! The chap has labeled Bitcoin as a “meme coin,” which has ruffled a few Bitcoin aficionados’ feathers. Oh, what a hoot it was, watching Mr. Pompliano trying to define a “meme coin” during his CNBC interview!
According to Schiff, there’s hardly any difference between Bitcoin and those popular meme cryptocurrencies. He even went on to say, “It’s a fine line to walk when explaining a meme coin without exposing the same fraud about Bitcoin.” Oh, the drama!
The debate is hotter than a jalapeno-eating contest, especially with the growing importance of meme cryptocurrencies in the crypto realm. Some Bitcoin purists, who tend to be more conservative, have distanced themselves from this trend, fearing it might harm the broader industry. But, dear reader, fear not! Schiff has been a Bitcoin naysayer since 2011, when the original cryptocurrency was still relatively unknown.
Our beloved gold bug has repeatedly dismissed the notion that Bitcoin could compete with gold. “Gold is real money. It also says so in the U.S. Constitution. But gold’s value comes from the tangible properties that resulted in it becoming money. Bitcoin is fool’s gold,” he claimed recently.
As expected, Schiff faces criticism from the Bitcoin community, with advocates arguing that the gold bug is trying to stay relevant by constantly mentioning the cryptocurrency in a negative light. But, worry not! Schiff recently stated that he was “popular” even before the leading cryptocurrency was created. What a relief!
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2025-01-21 23:10