Peter Schiff, one of the most famous names among Bitcoin critics, called Bitcoin the slowest horse in the race. Schiff stated that billionaire Paul Tudor Jones, who allocates nearly two percent of his portfolio to Bitcoin, is wrong to invest in BTC because it is the “slowest horse in the race.”
It looks like @tudorjoneshedge ended up betting on the slowest horse in the race. In fact, #Bitcoin will not even finish the race. If Paul really wants to bet on a faster horse than #gold he should move his Bitcoin chips over to #silver, or try some gold and silver mining stocks.
— Peter Schiff (@PeterSchiff) July 21, 2020
Gold Advice from Schiff
Outspoken Bitcoin enemy Peter Schiff went on Twitter to criticize Bitcoin and this time tagged billionaire Paul Tudor Jones. Earlier this year, Jones announced that it had put nearly two percent of its investment portfolio in Bitcoin. Back then, the price of Bitcoin had surpassed $ 9,800, and the billionaire had bought Bitcoin despite this fact. Jones made a positive comparison between today’s Bitcoin and the gold of the 1970s and called BTC the ‘fastest horse’.
Peter Schiff also gave Bitcoin the title of “the slowest horse in the race” upon this tweet and even stated that BTC could not finish the race. According to Schiff, Paul Tudor Jones will be much better off in the future if he buys silver or gold.
Everything Increased Except Bitcoin
Joe Weisenthal from Bloomberg TV, another major Bitcoin critic, has suggested that everything (stock market, gold and more) has increased these days, except Bitcoin. Weisenthal used the following statements:
“It looks like we’re not talking about how almost anything grows, except for Bitcoin these days.”
However, on July 21, the price of Bitcoin rose from $ 9,177 to $ 9,313, according to CoinMarketCap’s figures. At the time of writing, the leading crypto currency was trading at $ 9,323.