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Peter Schiff entered the top 10 most ...

Peter Schiff entered the top 10 most influential people in the cryptocurrency market
CONTENT

  • Peter Schiff is included in the ranking of the most influential people in cryptocurrency

  • Bitcoin has become more profitable than gold

  • Cryptocurrency can replace gold in the future

International consortium of news organizations developing transparency standards.

LunarCrush names bitcoin hater Peter Schiff among the 10 most influential people in cryptocurrency.

Peter Schiff entered the top 10 most ...

Peter Schiff became a cryptoinfluencer

Analytical resource LunarCrush presented its own rating of the most influential people in the cryptocurrency market. Among the leaders were the founder of Morgan Creek Digital Anthony Pompliano, cryptocurrency enthusiast Max Keyser, CEO of MicroStrategy Michael Sailor and others..

Among the most influential was also the bitcoin hater Peter Schiff, who has repeatedly criticized cryptocurrencies. Today, more than 324 thousand users follow Schiff’s Twitter posts, and most of his posts were somehow related to Bitcoin..

In almost every post, Peter Schiff compares bitcoin to a soap bubble or cigarettes in prison, predicting a drop in the value of the coin almost every day..

Nevertheless, Bitcoin reached record highs, approaching the $ 38,000 mark. As a result, the cryptocurrency market capitalization exceeded $ 1 trillion for the first time in its history..

At the same time, the gold that Peter Schiff believes in is showing the opposite trend. Already, starting in October 2020, banks stopped buying gold, and the cost of the precious metal dropped to $ 1,912 per troy ounce..

Read the list of the most influential people in the Russian cryptocurrency market here.

Bitcoin could be an alternative to gold

Despite all the disappointing predictions of Peter Schiff, bitcoin not only did not fall in price, but also rose to record levels, surpassing stocks, gold and other assets in profitability. The crypto community is confident that Bitcoin will soon be able to replace gold.

Peter Schiff entered the top 10 most ...

This idea has been repeatedly voiced by JPMorgan analysts. First, Bitcoin, like gold, is a scarce asset. The world’s physical gold market is valued at $ 2.6 trillion today, including assets held in gold ETFs, according to JPMorgan research. Of course, the cryptocurrency sector is two and a half times smaller, but bitcoin is as scarce as the precious metal.

Secondly, bitcoin can be used as a payment asset. Practice shows that since the onset of the coronavirus epidemic, more and more organizations begin to accept payments in cryptocurrency. This fact is confirmed by data from JPMorgan.

And Bloomberg analysts estimate that Bitcoin has become 4 times more profitable than gold.

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