Gold investor Peter Schiff unleashed yet another savage takedown of bitcoin at this weekend’s SALT Conference.
Schiff touted the same usual criticisms of bitcoin, calling it a “pump and dump scheme” that has “no value to hold.” But in a particularly aggressive statement, he managed to criticize an entire generation: “A bunch of young inexperienced kids are going to be dumb enough to buy bitcoin. Maybe they will. But as they get older they’re going to learn better.”
On the other side of the debate was bitcoin investor and founder of Digital Currency Group Barry Silbert. Silbert challenged Schiff’s outdated perspective on gold, claiming a huge generational shift will move money into bitcoin.